For those hundreds of posts in a tizzy, for God sakes would you please keep it in your sneaker. OMG, what do you think this is? A school recess with no dodge ball? Everybody gets a trophy?
It is litigation. The bad guys made an oration a couple of weeks ago and knees were buckled into rubber bands. They saw that. Now the written document (not approved by all parties of interest) is a legally filed document required for today. OK. Relax. We haven't had a turn yet.
I am convinced that 95%+ here have never been involved in litigation. I am not an attorney, but as a Plaintiff or Defendant in civil matters; when you read the other parties charges you are mortified. You don't agree, but you understand that you will have your turn. A brutal process. A learning process.
I would have been shocked not to see this POR by Rosen. For Heaven's sake they got almost a $B in legal fees on Enron didn't they? Haven't any of your read the ENRON Rosen work? The WORLDCOM Rosen work? Notice the JPMC $2.2B and $2.0B settlements in 3/15 and 6/15 of 2005? At the door to the courtroom! This is how it works. Oh, by the way, Venables was at the ENRON table also.
Let them do their job. They are big boys too. Katz (what a coincidence) has appeared before the Supreme Court on BK settlement priorities.
Relax. This is the way this is played. If the market reacts the way this board is then Monday will be wicked. The MM's will be droping this like a brick. To get you to sell. They have been here before. Me? I'll be buying.
This is a learning process.
The system is legal versus illegal; not right versus wrong. We believe we "got 'em" on the illegal part, on the valuations, on the ownership of deposits, NOL's, subsdidiaries.
I've also had occasions where I have read something and for whatever reason, real or perceived, it just did not sit well with me! I personally did not get that from your posting, however I will not fault Nlu for experiencing it!
We have a large group of posters here and I have been interacting with some for over a year and a half and some fairly recently! I don't know why our innate senses cause us to trust one over another, but it does, so either we follow our instincts or we resist!
I'm not saying that I'm going to follow you blindly into the desert and run carelessly through the cactus! What I am saying is that our decisions should be based on a compilation of ideas, DD, instincts, advice, etc! So I will read your postings, glean what I may, enjoy what i can, and respond if I must!
I do agree that calm is the order of the day because a stampede here is totally unnecessary and ignorant! There is never a reason to panic, besides when one panics one loses sight and therefore makes mistakes!
What is all the fuss about anyway? All we have so far is a verbal proposal, and now an incomplete written plan! I refuse to be concerned here over who won the coin toss in the big game!
So as far as our current situation goes, I have my plan! I personally am enjoying my weekend, my family, and the calm that you are prescribing! I pray that all can do the same!
See you Monday! GLTY
<I'm not saying that I'm going to follow you blindly into the desert and run carelessly through the cactus! What I am saying is that our decisions should be based on a compilation of ideas, DD, instincts, advice, etc! So I will read your postings, glean what I may, enjoy what i can, and respond if I must! >
Exactly right Larry, make up your own mind and don't try an accuse anyone else for your own to lazy to do the research selves. Investing is part science, part art, and part luck. If that isn't tough enough you have to contend with all the wolves in and out of sheep's clothing. Don't rely on, or take trading advice, from a message board.
Hold steady, wait for EC motions. By all rational and legal standards this POR should not prevail unless the FIX is in to the Judge and Trustee..which I have my strongest doubts on. However, I can't say that for JPM,FDIC, Bonderman, Weil..as something stinks here real bad!
Very well said. Just keep cool and let the EC do his job. Just think about it if commons were worthless do you really think Judge Walrath would have let him to the table. If you don*t have the stomache for it go on vacation Monday.
Your quote: "One day you're a drunk vulture crying about how you can't wait for your millions of dollars and the next you're a hardcore long who is about to lose your investment that is suddenly concerned about right and wrong? Figure it out."
That quote, and the most recent, I am sorry I just don't know what is going on.
First, it certainly isn't about me. I really don't drink and I know that I am not a vulture. I also am not in the position of "can't wait for my millions." The settlement of my holdings will change nothing in my lifetime, figure it out would be appropriate.
Also, I will stay LONG for a decade to see JPMC and the FDIC exposed. For $0 return. Will you? If so, we are together.
I will also, however, play the SHORT DT game; because I choose to. The second doesn't impair the first. They are not mutually exclusive.
And I did not say I was concerned with "right and wrong." I stated that it isn't about right and wrong in the legal system, it is about legal and illegal. We don't win in the judicial system screaming right versus wrong. We win showing illegal actions by the opponent.
I also stated Venables is quite capable.
If you are a WaMu long, and a pre-seizure long, I can understand how tough this is tonight. But tonight only the other team got the ball. We have our own team, and they are quite good, Supreme Court credentialed. Don't let Rosen's POR be "our" POR. It is not.
If you are not a WaMu long or short, stop.
We will prevail. It is a brutal process.
NLU, among the many things I've learned while being here since Sept 2008, is if NLU smells a rat, 'tis a rat.
Be wary of pied pipers ("observer")who come out of no where suddenly pretending to be smarter, cooler, and calmer than the rest of us not so bright idiots. First clue, the title: "Great news-Litigation Education 1" Your message was lost (whatever it was) in your overflowing arrogance and self-righteousness. Want a "Litigation Education 1 (I believe that should be 101), take a life long class from bop and hope that you learn at least a smidgen of her humbleness in how she truly has helped to educate us.
"NLU, among the many things I've learned while being here since Sept 2008, is if NLU smells a rat, 'tis a rat."
I'd ask you to ask NLU again. These are gut check times. You know how I know. NLU and some friends taught me that.
With regard to the rest of your post, I am not trying to help you. You obviously haviing been around since 9/2008, don't need anything that I can offer. In fact, you should be supporting what I stated. I am trying to calm. We need this to calm.
And I am not trying to compete with anyone. I've got bopfan's posts in pdf's with highlights and I read them over and over and over. There are also several other posters here that I have done the same with, but bopfan is #1. There were others too, now on the EC, I've got all of their posts. Really, really special people, I agree.
Again, I did not post this for you. I posted to offset the Rosen POR; the anxiety. It is not what we'll be talking about after Venables and EC responds.
I don't know you, but if you like NLU, you are probable well grounded. NLU and I have had a minor divergence that we will overcome. And yes, absent reasonable proof otherwise, I would follow NLU versus me.
Your Quote: "you have got to be fcking kidding me! Rosen doesn't give a damn about us. DFS"
I am responding to you, at the level you started. Take it back to civility, fine. I didn't start this, you did.
And, I compliment you for not having a different ID from board to board.