Washington Mutual demanda a la FDIC por 17 billones US$ + daños

Some may have seen these 'facts' posted along the weekend, and I will try to set the record straight:

- JPM did not pay out $29 billion in bonuses for 2009. They paid out $9.3 billion and in this much of it was stock (equity).

- JPM does not have nearly $700 billion in cash on hand. The number my E-Trade account reports is more like $26 billion. Feel free to refute this, I am open to all facts presented.

- The FDIC did not sell WMB to JPM based on WMI's stock price pre-seizure (which was around $2.00), so $2.00 or anything near there is not a valid settlement amount. (it will be much higher)

- Pre and Post seizure holders will not be treated differently in a settlement: If you hold shares when the settlement is reached, you will be eligible.

- The preferred shares are dropping in price because people feel more confident about the commons being in the money and so are converting their portfolio balances to a higher percentage of common shares. This means they have to sell preferred shares.

- If a stock swap occurs WMI will cease to exist as its own entity: It will become a wholly-owned subsidiary of JP Morgan Chase and Co.

- A stock swap of 2:1 WMI for JPM would dilute JPM shares by 21%. 21% is coincidentally how much Oxygen is in the atmosphere, so take a deep breath and relax because it doesn't mean JPM shares will become worthless (not even close).

- Tim Main's email (the one about shareholders in the Project West deal) does not imply Tim Main wanted to see shareholders get nothing. It implies that he wanted to avoid shareholders getting nothing so that the government would not get involved in the deal. He failed in this regard.

I'm sure there are more, I'll post them as I

Hubo una entrevista de una hora en CNBC con Warren Buffett, la segunda persona más rica del mundo, quien donó la suma de $ 31 mil millones de dólares para caridad. He aquí algunos aspectos muy interesantes de su vida:

1.- Compró su primera acción a los 11 años y se lamenta de haber empezado demasiado tarde!
2.- Compró una pequeña granja a los 14 años con sus ahorros provenientes de repartir periódicos.
3.- Todavía vive en la misma casa de 3 recamaras en Omaha que compró luego de casarse hace 50 años. Él dice que tiene todo lo que necesita en esa casa. Su casa no tiene ningún muro o reja.
4.- Él maneja su propio carro a todas partes y no anda con chofer o guardaespaldas.
5.- Nunca viaja en jet privado, a pesar de ser el dueño de la compañía de jets privados más grande del mundo.
6.- Su compañía, Berkshire Hathaway, es dueña de 63 compañías. Él le escribe sólo una carta cada año a los CEOs de estas compañías, dándole las metas para el año. Nunca convoca a reuniones o los llama regularmente.

Él le ha dado dos reglas a sus CEOs:

Regla número 1: No perder nada del dinero de sus accionistas.
Regla número 2: No olvidar la regla número 1.

7.- Él no socializa con la gente de la alta sociedad. Su pasatiempo cuando llega a casa es prepararse palomitas de maíz y ver televisión.
8.- Bill Gates, el hombre más rico del mundo, lo conoció apenas hace 5 años. Bill Gates pensó que no tenía nada en común con Warren Buffett. Por esto, programó la reunión para que durara únicamente media hora. Pero cuando Gates lo conoció, la reunión duró diez horas y Bill Gates se volvió un devoto de Warren Buffett.
9.- Warren Buffet no anda con celular ni tiene una computadora en su escritorio.
10.- Su consejo para la gente joven:
Aléjese de las tarjetas de crédito e invierta en usted..

RECUERDE:
A. El dinero no crea al hombre, sino que fue el hombre el que creó el dinero
B. La vida es tan simple como usted la haga.
C. No haga lo que los otros digan. Escúchelos, pero haga lo que lo hace sentir mejor.
D. No se vaya por las marcas. Póngase aquellas cosas en las que se sienta cómodo.
E. No gaste su dinero en cosas innecesarias. Gaste en aquellos que de verdad lo necesitan.
F. Después de todo, es su vida. ¿Para qué darle la oportunidad a otros de manejársela?
G. Si el dinero no sirve para compartirlo con los demás, entonces ¿para que sirve?

AYUDE AUNQUE NO PUEDA HACERLO; SIEMPRE HABRÁ BENDICIÓN PARA AQUELLOS QUE SABEN COMPARTIR

W.B.

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Many are speculating that THJMW allowed the delay of the ruling so that JPM/FDIC could get this settled without her shaking anything up. The lawyers
made it sound as if a settlement deal was close prior to the formation of the equity committee. Its addition to the case may have complicated things. Handing the $4B over to WMI would change the current state of things and could possibly mess up settlement negotiations. Furthermore, the transfer of the $4B back to WMI would prove that the FDIC took over a solvent bank
. This would pretty much prove fraudulent conveyance. It is speculated by many that the FDIC lawyer asked for this delay so that they could settle before the $4B is transferred and fraudulent conveyance is proven. Perhaps this is also why WMI's lawyers didn't really care that it got delayed. They know the reason.

La gente, despues de diseccionar lo que se dijo en el Hearing de la semana pasada, ha llegado a la conclusión de que los 4 billones van para WMI.

¿Porqué?

las claves:
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The FDIC was allowed into the courtroom as an intervenor, but when exactly were they given the right to delay the proceedings and decisions of this Judge. They were not and never should have been allowed more time to file an appeal, which we know they will file. Even if THJMW rules in WMI's favor, the FDIC and JPM are both going to immediately appeal the decision, so why would JMW delay the decison for their benefit, IMO they deserve anything, they (Bair and Co) deserve to be served up on a platter to Congress, who has to appropriate the funds for their B.S...

Think about it this way..
1. If decision was in FDIC's favor, WMI would not want an emergency order, they would ask for a trial to prove their case. In a summary judgement is the job of the movant party to prove "beyond a shadow of the doubt" that the evidence in front of the court is sufficient to render a decision in their favor.
2. If the decision was in JPM's favor (see #1)
3. If the decision is in WMI's favor, that means thaat JMW believes that the FDIC seized a solvent bank and her decision will return the seized funds back to the original owner.
JPM is expecting the money
to be returned to WMI, WMI has the deposits listed on their MOR since they filed BK, so they believe the money will be returned to them.. FDIC however is the party that will want an emergency appeal, because it means that JMW's decision will affect all seizures and sales the FDIC has been performing and could harm their ability to form the funtions of the corporation. What is apparent is that JMW (IMO) is going to award the money back to WMI and WMI is going to immediatley file the "fraudulent conveyance" claim in front of her "entered into evidence" as a couter-claim in May, but will be coming to forefront once SJ decision is layed down in WMI's favor.

It is at this point, that all parties will be forced to settle this. JD likes to wait until the trial date to settle, but this time it all about Criminal Acts and RICO>>>> Keep this in Mind!

I am not sure if JD wants a set of matching bracelets and a place next to Bernie, but with the current investigations going on from all arms of the government, I am not sur ehe can avoid one now.

I have the feeling we will investors
flock back to these stocks in late Feb.. Unless we get news of the Nol's or a settlement, then it's time to party. If the DOJ jumps on the Mic. This stock will scream, it is just waiting for the starting pistol...

~Fish~

Que excelente leccion de vida da este pequeño gran hombre, si el mundo pensara de esa manera, sin lugar a duda seria totalmente diferente.
Ahora volviendo a lo nuestro que pasa que esta todo muy tranquilo, es la calma que trae a la tempestad o a la locura.

No se pero la gente no debe estar muy tranquila. En este foro siempre dicen que no nos preocupemos por el precio, que si los MM, que si discutiendo sobre los 50 bill, que si la mama de Rosen.
Si este mes que parece un momento clave no descontamos en el precio de las acciónes lo que se supone que debería pasar, pues que decir, apaga y vámonos.
De momento especialmente a las preferentes las estuvieron arreando ayer, aunque al que haya comprado abajo no le afecte demasiado.

Muchas gracias por postear este mensaje! realmente excelente...

De acuerdo. Hoy tampoco pinta bien, parece que será duro el día. Lo que alienta es pensar que si la jueza no deshizo el EC es porque según ella hay dinero para repartir, por lo que debe haber fallos favorables.