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

Lo que tu digas depredador ;-) te falto tiempo para pedir un privado jajajajaja

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=766948&mid=766948&tof=23&frt=4

Since Rosen didn't specifically mention the status of the GSA in court on Wednesday, it's just a guess that it is not going smoothly. In the past he couldn't wait to give an update on it or issue a PR that an extension to his wonderful GSA had been submitted to the court.

I don't expect to see anything from him unless he has an extension to the POR V6 (old) because he can't make V7 happen. I'm thinking that most likely won't happen until his next deadline on 6/17 for the POR V7.

JMO ~~ Rosen has been having problems getting all parties to agree on the new POR v7 terms. He used the EC "needing 7 to 10 days for discovery" excuse with the Judge to extend his working time when in reality it's actually not about EC (when you read Sargent's words) but it's about Rosen not being able to get all parties into agreement before his last deadline. According to Sargent, EC only needs their discovery timeframe ""IF"" the POR V7 fails and isn't submitted.

Seems to me that the EC has something that is damaging to more parties than just SNHs or Rosen would throw them under the bus so fast and peel out on their sorry hides so all they would see is dust. There is something about their IT issues that implicates him and/or A_&_M, WMI_BOD and JPM. He's in the gatekeeper seat so he has to keep those other parties actions from being revealed.

Whatever is causing the delays, IMO Rosen needs to make this deal and he either has some standoffs in meeting EC's deal or it is really complicated on how to restructure the NewCo. ???

One more thought ... Rosen now trying to work with TPS (per his comments in court) then he's doing the bidding on JPM's part to see what he can do with TPS. Perhaps that was one of EC/Susman's conditions in what they want for Equity. Rosen has to get TPS out of the waterfall. If Rosen expected Equity to absorb the TPS value/shares he could care less how EC works that deal out with them. It seems to have fallen back on to Rosen since EC has left TPS out.

Great post. You are exactly right about Rosen's attitude regarding the hedge funds. If the FDIC and JPM were immune to any IT issues or other discovery of non-statutory behavior the debtors would have been fine with kicking the SNH 's to the curb and letting them fend for themselves.

At a minimum the EC recognizes they have control of the reorganized company and that assets are greater than liabilities so they do not need the blessing of the FDIC or JPM to submit a totally new GSA and POR on their own. Which means the EC is operating from a position of strength and will only release all parties if they meet the demanded price.

At best(for us) is the possibility that SG does have hard evidence of pre or post petition illegalities by the debtors, the FDIC and JPM and the EC is not negotiating at all but will take over the new company, give the SNH's a pass because they cooperated and go hard after the remaining parties after leaving Chapter 11 .

There was just something in Rosen's demeanor that tells me he has lost his enthusiasm and confidence he displayed in earlier hearings. His heart didn't in what he was saying as he tried to put a happy face on the most recent developments. He certainly wasn't his normal combative, arrogant self and his words and actions had an air of resignation to them.

Great comments. We know that the debtors, JPM, and the FDIC would move ahead with POR v6 and its confirmation...if they could. They have nothing to gain from POR v7. So what's changed that stops them and has them working on not one but two delays in the POR v6 confirmation? The answer, of course, are the creditors who were caught in the EC IT snare. Those other parties (JPM, FDIC, and the debtors) are trying to pull ahead but keep getting tugged back by their ensnared former co-signers. At this point in the negotiations, the trapped party keeps struggling, cursing, yelling, whatever...but they are stuck. Eventually they tire and then you real them in. The EC will gently point out what needs to happen then it's just a matter of working out the details. They might already have moved to that point in the process. Regardless (and irregardless), it shouldn't be very much longer...maybe two weeks...and we'll find out what the final deal is going to be. Just hope that everyone likes it. The EC's leverage is not good enough to get that $20 a share that people here keep going on about. For that kind of money, the other side would fight a lot longer and take their chances with whatever they might have to face.

Thanks, Mary. Yeah, the SNHs are in a bind. They've got to have something on Rosen & his other settling parties or Rosen would have already wiped his feet on them.

Rosen is one piece of work!! He talks to Edgar Sargent the night before the hearing and Sargent tells him ... "IF you don't do a POR V7 that we can live with then we need 3 weeks to finish discovery on the SNHs and you know what that means"!!! {{Sargent threat to Rosen to not try feeding us any lowball baloney.}}

Rosen hears and repeats to the Court "We are still working on the POR V7 because the EC needs 7 to 10 days for investigation/discovery." HUH??

There was no reason for Rosen to use the EC as an excuse for the delay except he couldn't tell the Judge the real reason that he was try to get JPM & FDIC to budge!! Note: JPM had 10 (that's TEN) folks on the phone and 2 in the court room.

A few weeks ago when Rosen stood up in court and did his little dance - IMHO - he had lost control or better yet those that were controlling Rosen had lost control. Rosen has covered a lot of questionable ground in all these months and for him the unthinkable is happening.

Rosen will first and foremost cover his own a$$ and his allegiance will be to those that can either save him and/or hurt him. Like it or not Rosen sill has some power and that power is the continued appearance of the illusion. This court needs Rosen to keep talking all the way till the end for the purpose of keeping the lid on Pandora's box.

All parties are making demands of Rosen. Those that conspired to steal WAMU are going to be resistant to any change and Rosen's job is now is to change their thinking and his promises of near three years. That wont be pleasant. SG has PJS's numbers, HF's guilt, whatever is in that sealed envelope, and appears to hold the key to unlock Pandora's box.

Rosen has kept this alliance of thieves held together but that has ended. He is dealing with some powerful entities but without Rosen this thing will crash and burn on its own.

Rosen assembled this bomb that was to blast WAMU so he is the best one to defuse it. His job is to convince his previous handlers that the door got locked and they are trapped with it. Now shut up, put the loot back, and let me see if I can turn this off.

Mary, it may not be about $20/sh (YET). But give equity (commons) a live co. with billions in tax benefits (and possibly a PARTNER that Susman/EC may already have found), and we have a PPS that could rocket to these levels regardless (or irregardless ;) of settlement figures. Something IMO that everyone forgets is that we will have opportunities to trade in our shares post-BK, possibly much higher than any settlement PPS. Assuming the hedgies don't have some backroom control and drive us into the groud on purpose for BKII ;)

Resumen:

Hay mucho más escondido en las alegaciones de Insider Trading de lo que salta a la vista y que podria implicar a A & M, WMI BOD & JPM.

Rosen se ha metido en un callejón sin salida en el que todo le puede estallar en las manos. JPM y FDIC ahora amigos se pueden convertir en enemigos por haber firmado el GSA la FDIC ya que JPM desea que pague la factura otro.

Los Hedge Funds van a estar de lado del EC y EC parece que va a controlar las negociaciones y si no nos dan lo que creemos es razonable vamos a proseguir porque se va a sacar mucha más tajada y la mierda va a expandirse en varias direcciones.

Que quereis que os diga pero esta situación era inimaginable hace unas semanas y fijaos las vueltas que da la vida. No hay que lanzar campanas al vuelo pero vamos hacia POR 7 o hacia perdida de control total por parte de Rosen.