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

Waiting honey...waiting...

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=528370&mid=528370&tof=4&frt=2#528370

I have always thought that the WaMu debacle was motivated by greed and avarice, which is rampant in the financial industry. I also felt that the political aspects were ripe for power plays as the economy was crashing. Take these circumstances and mix them together within an insidious Group (the WMI BOD, FDIC and JPM) and you know somebody was going to get screwed.

The original attorneys Weil, Gotshal and Manger, who we affectionately refer to as "Wile, Gotcha and Mangle" switched sides from shareholder interests to JPM/FDIC late in the game, likely because of the overpowering smell of power & greed, thereby being nice too the people who can do wondrous things for you in business and politics..(JPM, FDIC)...as one hand washes the other

Although, the WMI board and the associated miscreants were greasing the skids on the shareholders with the "control & expertise" they have in Bankruptcy Court, believing in there "infallibility", they also did everything in haste to push there plan thru recklessly leaving a black & white trail and if it wasn't for some angry shareholders and a fleeced Insurance Company, they were only weeks away from succeeding.

As it stands now, we have an EC Committee to protect us, a great law firm (Sussman, Godfrey) known as “one of the ten lawyers you don't want to face in court", a US Trustee who urged the Court admit the EC Committee because of "Exigent circumstances" and now an Examiner (with a criminal prosecution background) who was granted wide powers of subpoena and discovery, whose now hired 15 + "experts" to look into all pertinent facets of the situation,
...and a prudent Judge who I think is now very aware of what's happening ..all at a cost of $4 million dollars expended in the next two months.

In my opinion, from what I know and see, if this goes deep into an investigation before a settlement is reached, the following parties (in order of culpability) will be in deep trouble..with possible criminal actions based on: Conspiracy to defraud, fraudulent conveyance, aiding and abetting a fraudulent act, wire fraud, etc, all putting this matter into the framework of a Civil Tort, which will mean damages..

JPM / Jamie Dimon

WMI Board (and in particular William C. Kosturos) Chief Restructuring Officer, President & Chief Executive Officer)

FDIC / Sheila Bair (add stupidity)

Weil, Gotshal & Manges, led by Brian Rosen

and possibly Quinn, Emanuel (who I think were unknowingly suckered into this mess by Weil)

A&M (hired by the WMI BOD via Weil's advise and deeply complicit)

OTS (authority on impertinence)

Hank Paulsen (you better sell to JPM at $8)

I firmly believe that the opposition, down to the very last man, doesn’t sleep well at night, knowing each and every falsity they have contributed too and the portend of life changing penalties. I also think that each miscreant is thinking 24/7 about an exit strategy, any lame excuse and practicing pointing his or her finger to the next guy..and if I'm still on target, JPM (Jamie Dimon) will be the ultimate bag holder.

My expectations are a "settlement", but as I have said often, I think that this has gone to far and the DOJ will eventually be bought in by the Examiner and they will move ahead on criminal charges and the entire group will be open to lawsuits from prior investors who sold out there shares in panic of what transpired. Now, although I have my money where my mouth is, I still say a small prayer...Sept 7th and the next 45 days are quite critical as many things will come forth during this time period.

Remember, do your own due diligence and decisions on your holdings.

Regards, and also cross your fingers, Larry

La Sra. Walrath no es sypathetic a los accionistas : Cualquier persona realmente sorprendido ? :

"A pesar de fallo a favor del comité de equidad de oficiales de WMI en el tema del proxy , Walrath dijo a varios accionistas individuales representan a sí mismos de que sus inversiones en la empresa deben ser tratados como acciones, que está subordinado a otros reclamos de la quiebra , y que no había ninguna garantía de que podría recuperar ninguno de sus pérdidas en el plan de reorganización de Washington Mutual .

"Yo no soy tan omnisciente, " dijo el juez.

Robert Rankel de Nueva York dijo que Walrath invertido en WMI sobre la base de fraudulenta y engañosa información proporcionada por la empresa, que se declaró en quiebra en 2008 después de la FDIC tomó su banco insignia y vendió sus activos a JPMorgan por US $ 1,9 mil millones. La venta dio lugar a las dos empresas bancarias y las demandas agencia gubernamental de comercio más de cerca de $ 4 mil millones en cuentas de depósito en disputa.

"Perdimos nuestros ahorros de vida en todo esto ", dijo el juez Rankel . " ... Se han cometido actos de fraude y han engañado totalmente personas. ... Ellos mintieron , de forma deliberada , ya que de la codicia y la corrupción en la empresa. "

Walrath Rankel dijo que, aun suponiendo que había una demanda por fraude legítima , habría que pagar a los créditos de otros acreedores.

Ms. Walrath isn't sypathetic to shareholders: Anyone really surprised?:

"While ruling in favor of WMI's official equity committee on the proxy issue, Walrath told several individual shareholders representing themselves that their investments in the company must be treated as stock, which is subordinate to other claims in bankruptcy, and that there was no guarantee they would recover any of their losses in Washington Mutual's reorganization plan.

"I'm not that omniscient," the judge said.

Robert Rankel of New York told Walrath that he invested in WMI based on fraudulent and misleading information provided by the company, which filed for bankruptcy protection in 2008 after the FDIC seized its flagship bank and sold its assets to JPMorgan for $1.9 billion. The sale resulted in the two banking companies and the government agency trading lawsuits over roughly $4 billion in disputed deposit accounts.

"We lost our life savings in this whole thing," Rankel told the judge. "... They've committed fraud and they've totally misled people. ... They lied, intentionally, because of greed and corruption in the company."

Walrath told Rankel that even assuming he had a legitimate fraud claim, it would have to be paid after the claims of other creditors."

Oye una duda porque le dices Simpsonemili?

Porque él me llama Fedoremili.

Que RABIA, las WAMPQ desde los maximos que toco ayer en la sesion,
han caido casi un -20% al cierre de hoy.

Simpson, con la mejor onda lo pregunto, si todo esta tan bien porque sigue bajando y bajando??? mi apuesta es grande tengo 140.000 comunes y mi linea de quiebre es de 0,18 con lo cual en estos dias (dependiendo el dia) gano unos pesos o pierdo algunos. Mi apuesta es a todo o nada desde el primer dia que compre el primer paquete a 0,10 pero esto ya se esta pasando de largo!!! Cuando es el limite!??

Juampi: Yo creo que sin noticias podrian intentar tumbarla hasta 0.15. Las P´s igual llegan a $26 pero fijate en el volumen 6900. Yo casi tengo ese volumen acumulado, si vendo recuperarlas me costaría mucchisimo así que me quedo como estoy hasta el 7 de septiembre que es cuando empieza lo bueno.

Mientras tienen todo este tiempo para desestabilizar y los buscadores de gangas y manos fuertes tienen para quitarselo a las manos debiles y temerosos de lo que puede suceder.