Long Road Ahead, too many people Guessing the outcome
Been here for too long, lots of the posts are guessing the outcome. Case is complex, EC does not have data to make a determinnation on the POR / Valueation. Threats to JPM do not and will not work. Real facts / Data will and that is hard to come by. Unless Judge tells Rosen again to hand it over to EC.
WIll she do it, not sure, she sides more often than not with Rosen/WMI.
Is more money there for preferred / commons, no one knows at this point.
WIll we get a deal soon, that may be possible if JPM/ROSEN/WMI have the money to pay us off. May be they will offer the TAX rebates back to WAMU which might pay off preferred but Commons will be left out . WHich to me is not a good deal, since this site is mostly about Common equity holders..
Bottom line , too much guessing and hoping,
Lets just wait, exclusivity has ended, now it is up to EC to see what it does and if they have the ability to convience the Judge to give us some more time to find additional value for the equity hoders..
1) The judge has no choice in the matter - she either HAS to order WMI/JPM etc to turn over all documents or she HAS to appoint an examiner. Based on her past ruling, she HAS NO CHOICE in this matter. 2) Do we have any fight left in us? Are you kidding? We just now got the right guy in our corner and he is just now getting warmed up. Are you reading the posts on here? This is as optimistic as I have seen this board in some time now. Not only do we have fight left, we are finally taking control. Don't let the PPS dishearten you.
This is not a growth or value stock. IF THIS GOES UP, it will skyrocket in a very short time. The real possibility of not seeing a payout also does exist.
Judge Walrath has too make a firm decison on "discovery" or this case will be appealed instantly. Parties to the situation MUST have documents and asset list to go forward and that is the flaw in the Rosen POR, no accrate numbers with backup and no defined list of assets coveted by JPM. Sorry, on this point I disagree, she must be bold here as it will undermine any future decsion she makes. I say she issues a stern court order for full discovery with a time limit or else..if not appoint an EC which she may have to do via the higher courts review.
That I have and I figure many longs on the board are doing the same.
But we do need to asses if there is any fight left in us and is EC up to the challange, offcourse all based on the facts / data/ valuation, what will Rosen do next/ what is in the interest of JPM to make an agreement etc etc. And these WMI idiots, who had no interest in doing anything for the WAMU shareholders. This really gets my goat.. How they could do that to the WAMU loyal shareholders.