For those of you that are not well versed on the subject...the BK filing was NOT WaMu...it was WMI. All of the chapter 11 proceedings were WMI. WaMu was a sub of WMI and constituted almost all of the tangible assets,,,,but, WMI was the filing entity of the BK. There are NO hidden or undiscovered assets of WMI.
If you google JPM+WaMu purchase agreement....you get the signed document. There is no "secret" version except in the minds of the pumpers. No conspiracy, no hidden assets, just a normal BK by a poorly run company that went out of business.
You seemed to have missed.(on purpose???) the page 8 3.1 Asset purchased by assuming bank which lists very explicitly....any and all assets list....and Schedule 2.1-cerain liabilities NOT assumed by assuming bank. Guess that would not support your DREAM of getting rich without working for it.
Or it could be that this is a normal BK of a poorly run bank. The PA page 8, 3.1 Assets purchased by the assuming bank and schedule 2.1-cerain liabilities NOT assumed like PF stock, subordinate and senior debt, any and all employee benefits, all severance packages, and any compensated consulting agreements.......just a normal BK....with NOTHING left to split.
You only posted the part of the article that supports you "theory". Typical. If you read the rest, you find that all the other banks with dropped out of the bidding...including TD....or wanted FDIC to repay any and all of the fraudulent loans when discovered later. FDIC took JPM bid because they took it as is where is KNOWING THAT THERE WOULD BE $60-100 BILLIONS IN ASSET WRITE OFFS/DOWN because of the tremendous fraud WaMu was perpetuating.
no MORON...the PA is available on the FDIC web site and it is NOT 118 pages. Try goggle and you can see. Then...maybe you will not look so stupid
Do not try to confuse the bagholders on this site with FACTS. None of them have taken the time to read the purchase agreement they just want to fantisize about getting rich without working. I have read the PA and given instructions on where the PDF is located.....but that would mean all the dreams are gone. This is a normal BK for a failed bank that will eventually end in chapter 7. There is no other scenario to play out, no pot of gold at the end of the rainbow, and no hope of any recovery.
It is called supply and demand. Lot of selling....no buying means price goes down. If it were a real stock, there would be buyers at 35% decline in pps. MM just make money off of trading volume.
Fish....you can add to your "portfolio" at /$2.50 to go along with your $2.90. Average down your losses. Keep up the faith.....you will be able to buy at $1.50 before long.....
I think it is posted as a joke. Any savvy investor knows that this is merely a Chapter 7 in-waiting, that there are "up to 600 million" shares with all the options, and that the NOL are valueless. Just a prank post.
Hope is one thing....gross misrepresentation of the facts like Fish and Brandy routinely do is boarder line criminal. Pumping a BK penny stock to double up your beer money is despicable. This stock will never be a $5/share stock ($ 3 billion) or the laughable $20/share puts it at a capitalization of $12 BILLION.
It also means it is irrelevant as it was before he BK or seizure. It was also before an additional $65 billion in false loan, NINJ loans, and appraisal fraud was discovered at WaMu. It was before the US Senate investigation committee declared WaMu the epicenter of loan fraud. For those that are not accounting literate, "loans" are the assets of a bank....so if they were found to be fraud ...and they were.....then the assets disappeared leaving the liabilities extremely more than assets....and BK.
If you think for a moment, I do rarely start topics. I merely point out the stupidity or ludicrious postings...like WMIH will be $20/share!!!! which means that it would be capitalized at $12 billion. Not even a remote possability. A more realistic price for now is $0.19/share....going soon to $0.00.
No, not hardly. Kizittoo is the genius that claims to know Sir Paul personally, be a multi-millionaire, have a "model" girlfriend, and yet posts on a BK penny stock nights and weekends. Just another pumping liar trying to pretend he is more than a small time loser. Or is it big time loser?
Well.....I guessed you are sorry to have posted such BS. You an now "gobble" at $2.55....and falling. Guess $2.90 was not a good gobble......huh?