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

First as many of us found out late last night an amended agenda was filed. Peculiar indeed, many were not happy. Today, we found out why. Below are my/the highlights of both hearings today (DEL and Wash St).

DEL...

- Good faith negotions have begun between at least the debtors and the EC (how long have they been talking?? who knows) according to Rosen (mentioned several times).

- The debtors and JPM are willing to turn over "selected" disclosure by June 30th in a room where those who have been granted access can review documentation. (A win for equity as Rosens previous stance has now changed). The EC attorney (Nelson) said there was a long way to go, but they will take what they can get.

- The DS will be on the agenda for the omnibus hearing July 8th. HOWEVER, if there are to be significant changes, V5 will have to be submitted on or before July 1st to allow other entities to respond accordingly.

- Rosen continue to put off the TPS attorneys.

Note: Apparently there were discussions between at least the debtors and EC attorneys in THJW chambers yesterday. Also, some entities are concerned for some reason that a V5 could catipult equity up the food chain (not a whole lot was said regarding this and is very interesting regardless, I say expect a V5).

Washington States decision...

- The motion to compel a shareholders meeting goes back to Del court before yours truly THJW. Unknown how long it will take, however, the shareholders attorneys already knew this was a possibility after listening to the hearing last week. I'm sure another filing will be filed soon in her court. It could return if THJW decides as much and could go back to Thurston County (delays, however at least it was not dismissed as the debtors had asked for).

Conclusion...

Basically a good day for equity. Finally, we hear signs of some type of communication regarding including equity in "good faith negotiations". It was regarding settling the estate and NOT turning over documentation although those negotiations are ongoing as well. Those are my highlights feel free to add your own for the benefit of those who could NOT be there in person or listen live.

A good day and good luck and of course AIMNAO.

Estoy de acuerdo Max esto ya es un peñazo. Como las acciones de fannie mae se pongan a nivel de las comunes wamuq me parece que voy a hacer el cambio, al menos el gobierno esta detras de la empresa y daran una compensacion economica, de momento estan a 0.46

OK This will go 8-ball and you'll all hate me for it, but I think this is the case and I don't think JPM slipped up when they mentioned the Million page senate doc.

Look at the Enron Settlement. Oodles of parties ponied up... including JPM.

If discovery happens and if an Examiner comes in... the judge is going to target it all on JPM and the FDIC. JPM can't come out and throw 3rd parties under the bus to get them to have to "contribute". But they did mention 1 million pages of information that probably includes a lot of blood on a lot of hands.

Now they can say we BEAT it out of them.

Enron like settlement... yeah, I think so. The difference will be, this one will go to current equity holders.

Now we wait... My bet is that if a settlement comes that includes equity, we're going to see a crap ton of 3rd party indemnifications and we're going to be paid a multitude guilty of parties that JPM just threw under the bus.

Giddiness all around today but what really happened? Delays and nothing really bad. But the DS, Examiner, and SH meeting are still lurking.

Oh, can't forget to mention the EC is now in Global Settlement talks - yippee. Caution caution caution. Equity fell for that one before remember. Do you think Rosen has changed? Do you think a leopard can lose it's spots?

EC should remain vigilante, seriously vigilante. There has always been a problem with the use of this term Global Settlement. Why? Finally realized a GS in a BK case is a fraud. No one gets to settle a BK case (or decide settlement terms) except one party - the judge. The entire premise of a GS in a BK case is preposterous. Also, the use of the word "Global" (look it up - entire, comprehensive) is misused. Last time I checked there are a number of classes left out of the "Global Settlement"

The GS has been a fraud to this case since it's utterance in Dec. and Jan in order to hijack these proceedings. Rosen has used it like a club against all parties. When in fact it is neither global nor a legitimate settlement (since debtors, jpm, fdic, secureds, wmi bondholders do not decide or settle this or any BK case because that's what BK judges do). Therefore GS is a fraud a rope a dope and a dangerous threat.

Here's an example of just one danger: Rosen rope a dopes equity into a reasonable settlement under the "Global Settlement". True to form, he still keeps putting the screws to TPS, Dimes, WMB bondholders, etc., etc. Simple math and maybe now he has enough classes to consent to his "Global Settlement" and DS/POR. In the event that Rosen's Global is the last plan standing with the judge she unlike Rosen would not feel comfortable shafting so many other legit claims and she revises the POR, but guess where she gets the $$ - equity (last class in the waterfall) and the wondrous Rosen Global Settlement for equity is reduced significantly by the court. Rosen (JPM, fdic, etc) will always try to stiff as many classes as they can get away with. That is why the GS has always been just another Rosen fraud. There will never be a fair settlement until discovery and depositions are here and EC should not forget this fact. Global settlement is pure BS.

Solution for Equity - do not stop the fights: Fight for full discovery; Fight for Examiner; Fight for Shareholder Meeting; and Fight against the Rosen DS. And never trust a Rosen Global Settlement.

Also, last concern is for EC to nail down all discovery procedures not just for existing product, which I fear maybe all that is being addressed, but for the discovery procedure going forward because both Rosen, JPM, and FDIC have threatened to fight the EC over every document and every deposition they will ask for when they begin their own discovery process.

nos quieren matar poco a poco y que parezca un accidente van acotando mas y mas la soga a nuestro cuello y le quieren dar un halo de legalidad,es necesario que a traves de wamuequityrights encausemos a la grandisima hp walrath en un proceso de impeachment y sacarla de la carrera judicial.

desde luego hay unos cuantos quijotes pillaos en essta accion porque putada tras putada seguimos ahi,esto parece la cofradia del clavo ardiente,ya solo nos falta salir de costaleros cual procesion de semana santa llevando a walrath y rosen a peso

esto no puede ser que relaciones intereses hay???debemos investigar para incapacitar a esta juez,todo el mundo ha visto que rosen ha actuado con dolo que no tiene intencion alguna de dar info financiera importante y que quiere ganar tiempo para acabarnos de joder,walrath eso es luchar por la defensa juridica de todas las partes?????eso es luchar por escarecer la verdad????eres una grandisima hp mostrenca prevariocadora impenitente.

Dentro de lo malo hoy no lo ha sido tanto salvo que no han nombrado el examinador, por otra parte hasta el 8 de julio pueden pasar cosas, son 3 semanas donde la accion tiene que ir para arriba no hacia abajo. El problema es que la gente esta cansada de comprar en subidas fuertes para luego caer, pero estoy por apostar fuertemente que hasta esa fecha estaremos bastante más arriba, otra cosa es cuando conviene o no descargar, salirse o quedarse a esperar un acuerdo.
Nunca Rosen ha estado tan sumiso como hoy porque sabe que el examinador puede condenar a muerte a JPM y supongo que este último le habra dado un toque de atención. Espero subidas constantes hasta esa fecha. Suerte.

pero es que esa el tema nombrar al exmanidor vene.no creo que rosen se tome unos cubatas y aporte documentos en los que deje constancia que una empresa de 400 billones americanos la compro por menos de 2.no te da la sensacion de que dar mas tiempo es negar el examinador de facto para que se encamen rosen y la juez de nuevo???

es que estoy indignadisimo que coño hace falta para que lo nombre que teme la juez trinca inversamente proporcional al valor de nuestras acciones???cuando es simplemente una opinion teoricamente independiente.