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

Simpson va a comprar la Master... pero de Dominoss Pizza que me gustan más.
De la que te has librado tu y tus cortos... nos hacemos unos larguitos? :)

Voy a esperar al POR, tampoco cortos de momento hasta que Rosen presente la propuesta.

MarketWatch Corporate Watchdog

http://www.marketwatch.com/story/bankrupt-bank-to-become-giant-tax-break-2011-05-24?siteid=yhoof

May 24, 2011, 3:06 p.m. EDT

Bankrupt bank to become giant tax break
Commentary: Washington Mutual to emerge from bankruptcy
NEW YORK (MarketWatch) — Nearly three years after it was seized by regulators and its main banking business was sold, Washington Mutual Inc., the Seattle-based thrift, is nearing the end of its bankruptcy.

Except this time around, its business won’t be banking; it will be primarily a vehicle for tax breaks.

Shareholders are set to approve a $7 billion reorganization plan hammered out during on-again, off-again negotiations lasting more than a year, according to a Dow Jones report. See blog post on WaMu’s exit plan at WSJ.com .

Under terms of the agreement, WaMu will basically comprise the dying embers of its insurance business, an asset that wasn’t acquired by J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm JPM -0.53% in its abrupt, regulator-led sale in 2008.

But the real remaining asset is about $5 billion in tax breaks owed to the company. That means the hedge funds that snapped up WaMu debt will be able to buy companies under the corporate guise of WaMu and run them without significant taxes for a long time.
Shareholders agreed to a quick payout in exchange for the deal’s going through. J.P. Morgan also approved the sale. The only roadblock is the hedge-fund owners themselves: Appaloosa Management LP, Centerbridge Partners LP, Owl Creek Asset Management LP and Aurelius Capital Management LP.

An investigation is under way as to whether they used inside information about WaMu restructuring talks to benefit from debt trades. Read related commentary on hedge fund insider trading .

Sounds just like the kinds of investors who need a tax break.

-David Weidner

http://www.my.calendars.net/wmi/

Bueno pues a esperar a ver que ha negociado el EC de todo esto para dejar libres a los criminales que ahora seran nuestros socios de trayecto. Voy a pensar en positivo y creer que lo que es bueno para Susman y el EC es bueno para los accionistas...

Rosen saca ya el term sheet y dejate de gilipoyeces, queremos saber quien va a soltar la guita y que porcentaje de la empresa es nuestro.
Si es un low-ball offer pues que se intente remediar si hay margen de maniobra y si no lo es pues menos es nada.

Never have I seen so much BS on the board as has been posted concerning the so called settlement. First the settlement is not yet written. It is supposed to be ready 7 to 10 days from yesterday. There is nobody, and I repeat that NOBODY knows what will be included in the settlement. We have ideas for a framework as told by Rosey but we already know that Rosey is a liar. We have no details.

After JMW’s “Fair and Reasonable” ruling we were in real danger of having commons completely extinguished. The reason they were selling for 4 cents a share isn’t because people believed they were going to survive. Day traders were selling to each other and keeping up a constant stream of positive comments to try to convince others that there was a real chance they were actually worth something. Preferreds were hoping that they would get something for granting a release. That’s where we were.

Now the EC and the SG team have negotiated a deal where we seemingly will get control of the New Company and the NOL’s. We will have an opportunity to maximize the NOL’s. It also appears we will get to sue somebody for more potential gains. We don’t know the details about who we can sue. We don’t know what the new company will be worth. We don’t know how the value of the New Company will be divided between the preferreds and the commons. It may be that the true potential value of the New Company will be purposely understated to help keep the settlement together. (Makes sense when you are trying to get something not to try tell everyone what the potential value could be. That is part of Negotiating 101 in your basic business class. Also it is probably best not to talk about big tax breaks or tax loopholes when the government is trying to find ways to cut the deficit)

Some posters are so paranoid that they attack what they don’t know. It may not be a great settlement. It may be the best settlement possible. It may be that our position was not as strong as we believed it to be. It may be that that we had the HF’s dead to rights on IT and we could have gotten more. There is no way we can know the answers to these questions since there is simply not enough information available.

There is simply no reason to be here ranting about what you don’t know. Sit back and wait until the details are released. Then read what is actually being proposed. Don’t expect that every part of the deal is going to be exactly what is the best deal for equity. It will be a “settlement” which means it will be a “compromise”. A compromise means you give up something to get something. I hope we get more than we give up. A good “settlement” means nobody is completely happy. So expect to be a little unhappy but realize that people who know a lot more than we do did their best to get what they could. And quit ranting about stuff before you read the actual new POR #7.

http://theforexmarket.biz/obama-fundraiser-and-donor-mark-gallogly-of-centerbridge-partners-accused-of-insider-trading-what-will-happen/

Primero nos hundiamos !!! después nos ibamos a 0
Ahora que hay una tentativa que parece seria de acuerdo, que nos dan migajas... de verdad no se que es lo que deseas demostrar.
Tu negatividad es extrema y además creo que ni estas invertido.

Si tantas ganas tienes de saber lo que va a pasar esperate como todos los demás... lamento que te hayas perdido las megasubidas que algunos se han llevado pero aquí cada uno se moja como quiere y tu NUNCA te mojas y cuando lo haces siempre es para despotricar.

If you look at what Rosie was doing at the hearing you will find his main objective was to break the ice and let people know there is something including Equity that is coming. I will say here and now, there is no way that JPM/FDIC let a crime scene with multiple crimes and multiple players continue with third parties. This will dig up the old crime scene up again and there is no way this is going to happen. Just put yourself in the criminal’s position for a moment and assuming you had the power of one Shelia Bair; would you leave power with your crime scene exposed? No, I did not think so and neither is she or Dimon. Now that the ice is broken, there is room to come with the REAL settlement, hence why the EC did not even care what Rosie was doing or saying. They know the end game. All Rosie got to do was save face and put a positive spin on the Hedgies as part of their deal.

Once again you cannot believe anything Rosie says except what he did not say, including the date of his filing. With Bair leaving in July which was moved up from June due to this crime scene not totally covered and finished. There are about two to four people with enough power to order settlement and to make this go away, never to be heard from again. These two-four people could NOT tell ANYBODY (even Rosie) until the time was right and the time Ladies and Gentlemen is upon us. I do not think the “powers that be” will waste this upcoming Memorial Holiday weekend. When the Government wants to bury or keep the attention to a low they will use pre Holiday or on Friday evening before the weekend. If it is positive news, such as a much anticipated or positive merger would happen on a Monday morning or late Sunday evening. Keep in mind, timing of an announcement of this magnitude is as important to the Government criminals as the share price is to us.

Since Rosie said seven to nine days for the settlement to arrive which will take everybody’s focus off of this upcoming Holiday, I would expect if there is an impending announcement it could happen as early as tonight, possibly Thursday/Friday evening. Keep in mind I would think they would want to use a part of a trading day before the Holiday weekend as to hide the magnitude of this, so when Tuesday morning arrives it is dead, gone and not to be talked or discussed again. I would expect the FDIC to kick in multi billions, JPM to assume the preferred and many more details that I will not go into. If the settlement is not this weekend, maybe the next weekend but at any rate this is how this must end and that is “in total” and no loose ends. We are finally at the climax of the crime and no worries; we are all golden including the bondholders.