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

Es que ahora mismo Lehman es una lotería...es la mejor web para informarse sobre Lehman en serio...

Buena suerte a todos...entro en el último momento pero me juego un dinero...

You guys are out of control with TPG conspiracy. Since we are all playing guessing game here, hehe, how about my JPM conspiracy?

OK, my JPM conspiracy --

JPM funded and asked hedge funds to buy WMI bonds right after the seizure on the cheap. Now at least half of the total $8B bonds are controlled in the hands of the hedge funds supported by or affiliated with JPM. Don't forget JPM's investment bank is extremely powerful, longs should have an idea about its deep and extensive connections in the financial word, e.x., take a look at the MMs working hard on holding WMI stock down.

So backed by JPM, bondholders are working hard on a settlement without equity holders included. Such a settlement was almost ready, until TPG friendly reminded the UST that with the new NOL, common will be in the money, and if she doesn't act quickly to form an EC, she maybe get sued by shareholders.

So the UST formed an EC, and we have four wonderful longs landed as EC members. End of JPM conspiracy. Oh, Have to answer why TPG is not in the EC -- TPG knows retail investors will fight tooth and nail for shareholders.

Last, forgot to mention, JPM used a tiny portion of WaMu's huge deposits to fund those hedge funds.

Now how about the JPM conspiracy? Show me facts if you disagree...

Que poseen colectivamente el 3,3 millones de WMI `s bonos o el 58% de los bonos

advent capital management
banc of america securities
morgan stanley & co
marathon special opportunity master fund
citigroup global markets
onex credit partners
concordia advisors
one hill hub fund
deutsche bank securities
owl creek asset management
goldman sachs
p.schoenfield assets management
haleycon assets management
sattelite assets management
ivory capital
silver point capital
kingstown capital management
taconic capital advisors
ks capital partners
ubs securities
latigo partners
vso capital
luxor capital group

gracias wamurocks, por el impulso a buscar el documento en el kccllc.

http://www.kccllc.net/documents/0812229/0812229090806000000000001.pdf

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WMI calendar:
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I've been silently following WaMu for several months now, and I thought that I would offer some perspective and expertise. Undoubtedly, there are several of you who are more familiar with the details of WaMu's demise, but there seems to be some confusion about official equity committees and the chapter 11 bankruptcy process that maybe I can clear up.

First, this is an extremely complicated bankruptcy process. Unless JPM and WMI strike a deal, this case will most likely linger in the courts for quite a while. Both sides believe they have a winning case, and more importantly, both sides have the cash to litigate indefinitely. I know that most shareholders would like to see a quick resolution, but there are several reasons why this may be less than ideal.

1) Under bankruptcy law, WMI is offered certain protections against creditors it may otherwise not have. And from a tactical perspective, with so many contingent liabilities outstanding, this may be a good thing. There are currently $50B in claims outstanding, enough to wipe out equity entirely. But this does not mean that the $50B claim will result in $50B worth of damages. WMI's lawyers, hopefully, will attempt to settle these claims for significantly less, and in some instances, may try to have the claims thrown out entirely.

But from a negotiating standpoint, it's far better to be in bankruptcy while conducting these negotiations. Balance sheets are less transparent, the pink sheets have less strict reporting requirements, and if you were suing WMI and you knew that it's currently in bankruptcy, it's stock is trading for less than twenty cents, and you were offered a chance to settle, wouldn't you think twice about refusing the offer? It may not be a great offer, but the odds of WaMu surviving come into play here, and the longer WMI stays in bankruptcy and holds out on settling these claims/debts, the better chance those making the claims will begin to panic at the prospect of potentially losing everything, and will ultimately make a deal to secure some sort of return. Settle too quickly for too much, just to get it done, and it could end up hurting equity in the long run.

2) With respect to Weil, they represent the Debtor and as such, their first goal is to take care of the creditors, and then once the creditors are paid in full their obligations will switch to equity. So it is likely, and I have no idea if this is true, that Weil may take the easy way out and negotiate a debt for equity swap with the current bondholders and other creditors. This may or may not wipe out equity entirely, but it's certainly a possibility (see: KMart). That is why it is important for the Official Equity Committee to have its own representation solely looking out for the interests of the shareholders. Without it, it's like playing a game of football without any defense. Weil and the bondholders can negotiate a settlement and as long as it takes care of the bondholders in full, the Debtor has done it's primary job. The shareholders would be able to sue JPM, the FDIC, and even WMI (for failing to fulfill fiduciary obligations), but unfortunately once WMI entered chapter 11 those obligations are first and foremost to the creditors. Think of the OEC as an added line of defense against a complete change of control and/or liquidation, though on occasion a liquidation and one-time dividend payment may be the most preferred outcome depending on a company's assets and future prospects.
3) There will undoubtedly be times that many of you become frustrated with the efforts of the OEC. Please keep in mind that they have signed confidentiality agreements preventing them from speaking about the details of the case. Most likely, they are also restricted from trading their shares and are agreeing to take time our of their schedules to represent thousands of strangers for free, and so it's important to remember that they are under an obligation to do their best job, but that nothing is guaranteed and ultimately they are shareholders like yourself and what benefits you will also benefit them. The difference is that you can get out of your investment whenever you'd like...they are committed to it sink or swim.

4) At some point, should the courts rule in WMI's favor and the contingent liabilities be settled for pennies on the dollar, there will probably be some divisions between the preferred shareholders and common shareholder on how to split any remaining assets. For example, let's suppose there's enough leftover to pay the bonds off in full, but only enough remaining to pay the P's and K's. It's possible that equity interests will be split, and if there is to be a debt-for-equity swap, it may be between the preferred shareholders and the commons, as opposed to with the bondholders. Just something else to think about should it get to that point.

A little about myself. I hold a very small position of WaMu preferred shares that I picked up a few days ago. I also am currently serving on an official equity committee in another high profile bankruptcy case, so I know a little about how the process works and what to expect. This case is far more complex and unless JPM decides to settle on favorable terms, I expect it to last a long, long time. The equity committee that I serve on has been around for over 18 months and there have been many ups and downs throughout the process. I would expect the same for WaMu, and I think everyone ought to know that the road ahead, if passable, will not be a smooth one--even with an official equity committee--until all of the obstacles such as paying the creditors and negotiating favorable settlements have been taken care of.

-Slim

No parece muy alentador

Es un punto de vista inteligente pero hay que esperar a ver que ocurre proximamente, EC y Plan Reorganización.
A parte no hace ninguna mención a la reclamacion por daños, como si no existiese.