You will get that letter whether you own 1 old-H share or 10000 old-H shares. But you get no letter if you own ZERO share, lie APE or Angryneer, AHAHAHAHA.
I think the SNH knew about this all along and tried to fight tooth and nail to own WMI. Now Rosie works for us and he knew all about this. And TPS probably settled knowing this. This is the most legit money that JPM cannot steal because it is ours and WMI was never seized.
Flow, I don't think the 7B that JPM paid to the creditors is part of this money. Or is it?
So angryneer, what is your point. We were discussing about the money that WMI transferred to WMB prior to the seizure and WMI was not seized and not sold to PM and we are not disco=ussing about any settlement money for bad loans that JPM is paying now. Do you have a serious reading problem? Oops I forgot you are just angry.
Dumb Ape. The $500 payout is for other claimant, not PIERS yet. Because we are due to a much bigger payout. HAHAHAHA! I will be paid more in Feb 2014 that your mom can make in her lifetime. HAHAHAHAHA!!!
Yep I got mine too. The letter is sent only to people who own H shares (I got no letter for my other account that has no H shares). The letter also said something about paying off other small claims (I forgot what it is because I paid no attention). Anyway, it is a good thing that things are moving fast to pay off PIERS and eventually equity.
Ape, I did check my mailbox and saw an LTI statement saying now that I still have the IOU note and it's up due to interest income. How about you? Anything in your mailbox except for the letter from your mom saying that she is still in jail?
So angry again eh? My jab at you is that you "pretend" not to post much but you were always around and posted under other IDs. Only thing today is that you mistakenly post under your real ID. LOL. Nothing about NOL.
Roger, after 2 years there is fewer restrictions. Before 2 years, an acquisition or merger can still be made albeit smaller in size.
Angryneer has been here since day 1 and always will be around. Although he owns no share, not even the LT shares. ROFLMAO. That's why he is so angry that he lost his mind and forgot to buy just before the bankruptcy was over. If he had done it, he would have more than double his money while owning a bunch of LT shares that may bring some real money. ROFLMAO.
JPMorgan sets post-settlement CC for 4:30 ET
"Todays settlement covers a very significant portion of legacy mortgage-backed securities-related issues for JPMorgan (JPM +0.8%), as well as Bear Stearns and Washington Mutual," says Jamie Dimon, following today's $13B deal.
Still at issue are criminal charges as well as private mortgage-related cases including those with bond insurers such as Ambac (AMBC +4.2%). Looking through the details of the government settlement, BTIG's Mark Palmer sees positive read-through for AMBC.
I don't know what good news can possibly be for Ambac the stock regarding JPM settlement. Anybody?
P.S. Ambac is out of bankruptcy just like WMIH and so AMBC the stock should have nothing to do with the settlement.
So whatever were agreed by all parties at settlement will be what each party will receive. So WMB last payment from the LT was already made a week or two ago and now there will be no more claims from WMB bond holders to WMILT. As for the unsecured claims, the LT is now plaintiff for them per one of the court filings and so it looks like money to pay them will come from somebody else or otherwise WMILT would not be plaintiff for them if money will come from LT. The employee claims are now capped. And MARTA will probably gets paid from the settlement money by JPM for bad loans. We are due to receive the tax return anytime now.. So I think there is enough money for PIERS already by Feb 2014 and all the other money including GS settlement, D&O Insurance and foremost contribution money by WMI to WMB, will all go to equity. Mid to end of 2014 will be the time for equity to start to receive LTI statement. Everything should be over soon since the LT has just reduced the reserve money allocated for litigation.
Kinged, I agree with you or I think so if I understand you correctly.
I agree with you that whatever money that FDIC collected from the sale of WMB has to go to WMB bond holders first. But whatever money is in WMI, WMB bondholders cannot touch it because WMB and WMI are 2 different entities, one was seized while the other was not. So for instance this money is ours just like you said and WMB bond holders have no right to claim it:
" One of these assets was related to capital contributions that WMI made to WMB just prior to the seizure. If, somehow, at this late date, those contributions or other assets went back to WMI estate, I could see this going directly to the WMI-LT and would be distributed to those awaiting to be paid such as Piers, class 18, and then equity."
Btw, I think that there is already enough money to pay PIERS either in full or nearly full and so the next chunk of money should go to equity. I think MARTA claims should go away since it is part of JPM settlements for bad loans. Is this correct?
Kinged, I disagree with you on several points:
" It would actually go to claims for preferred shareholders next which was more than $7 billion." No, TPS and old preferred (P, K) and commons are the same now because they and us hold the same LT shares. Before the bankruptcy was over, yeah TPS was above us but not now, they are in the same boat as us albeit TPS owns more LT shares but the oly way that they will get paid is that we also get paid albeit a lesser amount because we own fewer LT shares.
" I think the chances of all WMB bondholders being satisfied with money left over for preferred and common shareholders is less than 1%. "
WMB is not part of the bankruptcy settlement and therefore they are no longer above us. Granted, FDIC may have money allocated to pay them but that's a separate thing from whatever money they intend to pay us if any. So whether we get any money from FDIC or not depends on whether they already have money allocated for us or not and is not affected by whatever money FDIC has allocated for WMB bondholders. We are no longer in the bankruptcy and therefore whatever settlement (secret or public) we will get is what we will get.
Now I am curious about the piece in the news that said "the WAMU assets that FDIC is administering". What is that asset? Is it apart from the 2.7B?
So the key words here are " they issue the equivalent of "I.O.U.s" for those that make claims".
So FDIC will only pay to those bond holders who make claim? And furthermore bonds can be sold on the market by people who made claims. So what will happen?