Wamu WKN 893906 News !

Auch von mir ne schöne Zeit und sauf nicht so viel, das könnte die Gaunerbande ausnützen.

"da überlege ich mir glatt, ob ich mich mal deutlicher äussern soll" 

 Auwei, ist da eine Steigerung noch möglich? 

das mag sein, der etwas beleibtere Josef war sein Untergang und auch der des Bankhauses... dem hätten beide lieber nicht begegnen sollen^^ (nur m.M.)

da hat das Risikomanagement nicht gegriffen...

kein rotwein, 6 tage behördenwege für eine baugenehmigung für verwandte.
oder zumindest nur sehr wenig, grins.

 

http://in.reuters.com/article/2011/06/17/...dic-idUSTRE75G4H620110617

 

 FDIC, WaMu ex-CEO nearing settlement of lawsuit

WILMINGTON, Del./NEW YORK (Reuters) - Former Washington Mutual Inc Chief Executive Kerry Killinger and two of his top lieutenants are nearing a settlement with the Federal Deposit Insurance Corp over the failure of what was the largest U.S. savings and loan.

The parties have "exchanged settlement term sheets reflective of a potential settlement" in the civil case, and are "diligently working" to resolve remaining disputes, according to a filing Thursday in federal court in Seattle. An FDIC official said the lawsuit seeks to recover $900 million.

Killinger, former Chief Operating Officer Stephen Rotella and former home lending chief David Schneider were sued on March 16 by the FDIC, in its first lawsuit against officials at a major lender that failed during the financial crisis.

The FDIC accused these executives of gross negligence and reckless disregard for the long-term safety and soundness at the Seattle-based thrift, known as WaMu.

It said they pushed risky home loans to fuel short-term profit and boost their pay, which totaled more than $95 million from 2005 to 2008, while ignoring the basics of proper risk management.

The FDIC also sued Killinger's wife, Linda, saying her husband transferred homes in California and Washington to her to keep them out of the hands of creditors. The agency sued Rotella's wife, Esther, over a separate asset transfer.

Lawyers for the FDIC, Killinger and Schneider were not immediately available for comment. Killinger has called the FDIC allegations baseless. A spokesman for Rotella declined to discuss settlement talks, but said Rotella as chief operating officer took significant steps to shore up WaMu's finances.

Founded in 1889, WaMu is the largest banking failure in U.S. history, with $307 billion of assets, $188 billion of deposits and more than 2,000 branches.

Regulators seized the thrift on September 25, 2008, and JPMorgan Chase & Co bought its banking operations for $1.9 billion. The holding company filed for Chapter 11 bankruptcy protection the next day.

"MYOPIC FOCUS" ON GROWTH

The FDIC said WaMu had $177 billion of home loans on its books when it failed. More than half were home equity loans or option adjustable-rate mortgages, which left many homeowners owing far more than their homes were worth.

According to the complaint, the executives' "fixation on short-term profits fueled a myopic focus" on adding mortgages to the thrift's portfolio, despite their knowledge of signs that the nation's housing bubble might burst.

The FDIC said it had as of June 14 authorized $6.8 billion of lawsuits against 238 former directors and officers at banks and thrifts that failed during the financial crisis.

So far it has filed seven such lawsuits against 52 officials, including from WaMu. One of these lawsuits, concerning the 2009 failure of Illinois' Corn Belt Bank and Trust Co, was settled for $700,000, the FDIC official said.

Killinger and the other defendants had been expected by Friday to ask U.S. District Judge Marsha Pechman to dismiss the FDIC lawsuit.

She granted a two-week extension after the parties agreed it would be "counterproductive" to settlement talks to file such a request now.

The WaMu holding company is battling with creditors over its plan to distribute $7 billion under a reorganization plan. Talks to resolve shareholders' objections recently broke down, people familiar with the matter said.

The case is FDIC v. Killinger et al, U.S. District Court, Western District of Washington, No. 11-00459.

(Reporting by Tom Hals in Wilmington, Delaware and Jonathan Stempel in New York; Additional reporting by Dave Clarke in Washington; Editing by Dave Zimmerman, Steve Orlofsky, Tim Dobbyn and Phil Berlowitz)

WaMu, Primary Global, J&J, Airgas, Credit Suisse, Imperial in Court News

Former Washington Mutual Inc. (WAMUQ) Chief Executive Officer Kerry Killinger and Chief Operating Officer Stephen Rotella are in lawsuit settlement talks with the Federal Deposit Insurance Corp., according to a court filing.

Lawyers for Killinger, Rotella and David Schneider, Washington Mutual’s former home-loans president, exchanged term sheets with FDIC attorneys and are “diligently working to resolve their remaining disputes,” according to papers filed yesterday in federal court in Seattle.

“In some instances, the settlement terms must have consent of certain third parties,” lawyers for both sides said.

In September 2008, regulators seized WaMu, once the nation’s biggest savings and loan, and sold it to New York-based JPMorgan Chase & Co. (JPM) for $1.9 billion. The FDIC sued the bank officials in March, claiming they took extreme risks with WaMu’s home-loans portfolio, causing billions of dollars in losses.

Lawyers for both sides asked the court to extend until July 1 the deadline for the former executives to file their initial response to the complaint, which also names Killinger’s and Rotella’s wives as defendants. A final mediation session is scheduled for June 30, according to court papers.

Bank executives blamed Killinger during hearings before the U.S. Senate last year for ineffective management and lax lending standards. Killinger was CEO for 18 years before he was ousted on Sept. 8, 2008. He told senators last year that his company became the largest bank failure in U.S. history in part because it was excluded from a group of financial institutions favored by U.S. policy makers.

Rotella, who blamed Killinger for failing to institute stricter lending controls, said in a letter to friends in March that the FDIC suit was an abuse of power. A copy of the letter was provided in March to Bloomberg News by Rotella’s spokesman, Daniel Hilley.

Hilley declined to comment June 17 on any potential settlement. David Barr, a spokesman for the FDIC in Washington, also declined to comment on a possible settlement.

Steven Caplow, an attorney for Schneider and the Rotellas, didn’t return a phone call and e-mail seeking comment. David Aufhauser, an attorney for the Killingers, also didn’t return a phone call and e-mail seeking comment.

The case is FDIC v. Killinger, 11-00459, U.S. District Court, Western District of Washington (Seattle).

For more, click here.

http://www.bloomberg.com/news/2011-06-20/...perial-in-court-news.html

Wünsche dir viel spass in griechenland und vergiss die briefumschläge nicht sonst kommst dort nicht weit, wenn du eine genehmigung einholen möchtest, mal ganz zu schweigen von der bearbeitungszeit. Falls du doch noch einen internetanschluss vor ort finden solltest, würde sicherlich nicht nur ich mich sehr über ein paar zeilen von dir sehr freuen. Zu deinen beiträgen, du hast meinen allerhöchsten respekt, so eigen wie PB auch war, durch ihn hattest du noch etwas mehr biss, danke noch mal für die tolle arbeit die du hier leistest.

http://app.filesdirect.com/info/N.aspx?ece16503f0014393875a941dbca415f7 

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Zitat luckybear:

PREDICTION TIME....well with only 7.2 million traded friday i think we see lil or no movement up.....we may see .10 1st, if nothing happens today......

overall i think this soap-oprea drags out another month,july 19th and then we get our settlement......stock gets haulted,...1.50 a share UP FRONT and shares of the new company valued at 10+ billion, but with no selling rights until 6 months passes....p and all perfereds get fv, we give out all releases and then jpm buys out new company for 17 billion.....netting us the 1.50 a share plus another 10 dollars and the deal is done.....no trial, no jail, no exposer...and we get paid more than we have now...jpm gets the tax breaks and all the goods for a mere 19 billion total.....END OF LONG STORY....my .12 cents worth...

go wamu...
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ZItat fsshon:

I have not made any kind of prediction of when we will be out of this bankruptcy, but I am going to go "out on a limb" and make one.

Because I feel TPS will eventually be taken care of, maybe they will win their appeal or JPMC will settle with them before Appeal is heard, I don't know, but I have a strong feeling of where we are going. I can't explain it and it is all IMHO on this WAMU thing.

So here goes...

We move to PORV7 and have it heard by Sept 14th. Because Equity is a part of it and working with the estate for a good outcome, the Judge confirms it by Oct 13th. We are out of BK on Oct 14th or just a little later. I don't know the numbers, so don't ask!

The Burn rate is a part of the decision of all parties to finally come to a conclusion and come together on an equity POR. Judge finally gets what she wants, the EC may have won their appeal by then and may have put a real settlement on the table. I don't know why, but I have a feeling this is where we are headed. Out by Mid OCT!

Remember it is a LIMB! That I am now out on! Anyone care to join me, I will be sipping on a crown and coke until then. This time I brought plenty of padding for the fall if I were to hit the ground in a tailspin.

~Don~
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Zitat Large Green:

fsshon, I think you could be on to something but I will also go out on a limb that few may agree with but that is OK. If my limb breaks, maybe I can then jump to your limb as yours would make the next best choice IMHO and here it goes. Hopefully, you take no offense to my other post, as I certainly did not mean it personally but more my frustration with this travesty.

I have discussed here frequently and before how the Criminals have spent the last three years hiding, manipulating, practicing bankruptcy fraud to the hilt and many more illegal, unethical and inhumane acts to keep Joe Public from having a clue. I also discussed how can the Criminals let May 13th (Susman's original objections due) happen and most of all how could the Criminals let June 29th (Confirmation Hearing) happen without Equity? All of the assets, liabilities, illegal transfers, quit deed transferring, wind mill farms, airplanes, over 100 subsidiaries and most importantly a true asset/liability valuation that will show WaMu was a solvent entity before the illegal seizure. This will come to the forefront with Susman's objections and even more so in a true detailed Confirmation Hearing that will have to last longer than the one during the first week of December 2010, unless this becomes a sham.

Having said all of this and withholding much more, I cannot see how the Criminals can get past Susman's objections first (no clue when/if there is a due date), and not to mention how they can get past the first two depositions this coming week? IMHO, if the depositions go through, Rosie will be fried with bankruptcy fraud. I have no doubts one or more of the Horsies will put him in the so called "Mastermind" status of this POS POR in early 2009. So my handicapping of this mess is that there is a true settlement that Equity could agree to (could of happened this weekend) or Rosie has to pull WMI out of the G.S. as IMHO, he will first work to protect himself versus his beloved new bosses. It would be hard (maybe literally) to work around Big Bubba! I just do not think Susman will be any more professional than he has already been to the Criminals as Susman wants out of this very corrupt Delaware system.
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Zitatende


MfG.L:)

...aufgreifen, da mir das Angst macht.........

http://www.ariva.de/...KN_893906_News_t364286?page=5720#jumppos143002

sollten die wirklich die Möglichkeit haben:
A) EC entmachten und Willingham absetzen.
B) in Hinblick auf (A) unser Anwaltsteam zu "entsorgen".

Ich weiß, wir können daran wirklich nichts ändern, aber es zeigt, das da wohl ein Nerv getroffen wurde, den es für gewisse Leute zu schützen gilt.........

Es müsste doch eigentlich irgendein "Verfahren" geben, das "unser" EC vor Angriffen schützt, da se wohl offensichtlich mit Susman für Ärger auf der "anderen" Seite sorgen....

Gruß

hier am Sontag fast nur Querrereien.
Ich denke da ans Tageshoch in US Freitagabend.Das hat bestimmt was zu bedeuten.

 

Top 10 Aktien auf wallstreet:online: Commerzbank und Washington Mutual im Fokus der Anleger

 

http://www.finanznachrichten.de/...utual-im-fokus-der-anleger-015.htm

Mit einem Sprung von Platz 4 im Vormonat April meldete sich die Washington  Mutual Aktie auf dem ersten Platz aller meist gesuchten Werte auf  wallstreet:online zurück. Mit insgesamt 376.649 Aufrufen bedeutet dies eine  Steigerung von rund 363 Prozent zum Vormonat. Die Gerüchteküche brodelte  und innerhalb weniger Tage legte die Aktie Ende Mai eine dreistellige  Performance hin. Nachrichten über die Einigung von Washington Mutual mit  den Anteilseignern, die das Ende der Insolvenz einläuten und den Weg einer  Neustrukturierung ebenen sollen, ließen Anleger wieder hoffen.

So gerne ich Deinen Optimismus teile, das Tageshoch Freitag abend in USA ist

1. mit sehr geringem Volumen zustande gekommen
2. nicht durch irgendeine bekannte NEWS initiiert

Solange nix bedeutendes passiert, wird es nur dieses bekannte Zocker-auf-und-ab geben.
Bei ECHTEN News sehen wir hier sehr schnell Kurse über 0,35 oder unter 0,07 $.

Uns allen viel Erfolg bei unserem Invest. Da Wamu steht voller überrraschender Wendungen war; warum sollte nicht diese Woche mal was ENTSCHEIDENDES passieren.
Das Potential/der Druck dafür ist jedenfalls vorhanden.

*KA*

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Zitat BK1505:

So what will next week bring for WAMUQ? Any opinions?
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Ziatt william48:

You just gotta roll with the punches …”

“sometimes, you just gotta roll with ‘em, little black boy.” Randy Newman was right. There is no justice … only arrogance, power and greed. I’ve long been mystified as to why this and the Y-Board is littered (no, it’s CHOAKED) with thousands of posts from people who can’t reconcile their naïve hopes of a payday with the darkness of true reality. Bankruptcy courts were never designed to be fair, as much as they were meant to provide a forum for creditors to divide the spoils without killing one another in the process. It’s a forum devoid of “the criminals” (a highly favored phrase on each board); and full of people who are simply smarter and more ruthless then other people. It's not so much a "bad" thing as much as it is a Darwinian thing (i.e., those who are stronger will prevail over those who are weaker). Once you incorporate that logic into your mindset, you too (and your trading account) can begin to “roll with the punches”. To prattle on about all the injustices visited upon equity in the past 3 ½ years is to take your eye off the vicious blow that’s headed your way right now.

Thankfully, we could have not hoped to receive more competent legal counsel then Mr. Susman, whom instinct leads me to believe has amassed a great and dark RESERVOIR of ruthlessness, waiting for it to be tapped. Moreover, we have, at the EC’s helm in Mike W, a man who has steered a ship or two through waters as choppy as the ones we now face.

So then … the coming weeks will pit extreme arrogance and unchecked greed against unbridled ruthlessness and measured experience. The odds would suggest that we have a more than decent chance of prevailing in that struggle. And hey, where else on earth can 12 cents turn into 8 or 9 dollars in a year or so?

But first, we’ve all got to learn how to “roll with the punches”!
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Zitat Bizreader:

I'm rolling, and bouncing back up and standing up to the punches.

That's what determination is all about.

If all investors rolled away we would definitely be out of the money.

So, stand, hold, tuck and roll and stand up again.

This is more than a physical fight... imo.
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Zitat William48:

You got it bizreader. Let's hope that other find similar courage, as the next two weeks will be brutal.
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Zitatende

MfG.L:)

Zitat:
sollten die wirklich die Möglichkeit haben:
A) EC entmachten und Willingham absetzen.
B) in Hinblick auf (A) unser Anwaltsteam zu "entsorgen".

Tut mir Leid, das kann ich Dir nicht sagen.

Meine Meinung...

Da hat das US-Trustee auch noch ein Wort mitzureden.
So einfach kann das nicht gehen zumal ja wahrscheinlich schon Beweismittel bei Susman vorliegen und Er diesen Weg nicht beschreiten würde.

Wie immer, meine persönliche Meinung.

Odin



Hier ein Link der auch interressant ist.

Here's an '08 post in which the FDIC says they transferred 300 billion in assets to JP Morgan from WAMU:


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investorshub.advfn.com/boards/read_msg.aspx?message_id=64399364

Zitat fsshon:

Let's be careful with the allegations of Bankruptcy Fraud against a very good and well-connected smart law firm like Weil and Quinn. and let's just for a moment hold Rosie out of the conversation.

Here is why you have to go to the heart of the matter and look at the confirmation liars themselves, A&M.. These are the true culprits and criminals of this bankruptcy and may have been completely complicit and/or orchestrated the estate (debtors WMI bod) committing bankruptcy fraud and working with senior debtholders to jettison all classes of equity they were supposed to protect pre-bk. It was obvious in Dec 2007 that equity was no longer their concern, when they sold off the Securities now known as TPS and further dilluted the company with the TPG deal. Let's for a moment put ourselves at that BOD meeting in DEC when they had to raise capital for the banks because of the losses occuring in the mortgage portfolio. They needed the capital to prop up the balance sheet and sold off parts of the shareholders equity to do so. What would you have done, Bair was most likely putting WAMU on the OCC radar screen and the BOD was aware of the govt interference.

Now we get to the crux of the argument. Here is why Rosie and crew may be innocent of BK fraud. You (LG) are a bankruptcy attorney your job is to litigate the claims, make sure the senior creditors are paid and reorg the company so it can operate as a new entity without the "going concern" label. However you also have an opportunity to sue and litigate against the parties who may have been responsible for putting your clients in BK. You do your job, you sit down in March 2009 for a settlement conference, term sheets are passed around, the senior creditors are be asked to take a haircut because the FDIC wants your clients deposits and is not willing to budge. JPM and FDIC have already admitted in court docs filed in Oct 2008, that the deposits legally belonged to your clients and now they have changed their tune. The money belongs to your clients and should be in their bank account to pay the seniors off. What would you advise your client to do, give up the funds or fight for them?

You are fast approaching the filing deadline for a claim against the FDIC/JPM. You know this, JPM knows this, so the talks break down and JPM files its lawsuit to protect the assets it illegally acquired as part of the seizure and sale. You file against both the FDIC and JPM in DC district court and Rebuttal filing in BK against JPMC. THe FDIC joins in and the party gets started. Your job is to get the best recovery you can for your client, so you push really hard, the shareholders are all rooting for you, although you know the eventual outcome is they will be cancelled in a settlement. It sucks, but it is just the way the system is set up.

Anyway your clients really are a restructuring firm called A&M hired by the estate and are charged with valuation and administration, all you do is prosecute the claims like you have been hired to do. You fight JPM and the FDIC, like you were hired to do. You are GIVEN valuation reports from A&M that helps you decide whether or not you are going to try and get a GSA with the parties or keep prosecuting the claims, you want that 4.4B back. YOU are not a valuator, you are an attorney, so you just work off what is given to you and what you know as an attorney. In Dec 2009 you file an objection to the formation of any EC, because of the expense and it is the first time you have to tell the court you believe equity is an out of the money" constituency and you are working for their interests, no need to add an EC that will be a fee burden upon the estate. The judge does not listen to you and appts an EC because she believes the current Market Value of the equities justify the appt of an EC. EC is appointed and they are completely left out of the process, since they really are (by the financial standards and numbers you have been given) an out of the money group. You counsel your client and everyone agrees a GSA is the best way to get out of this expensive bankruptcy and back out in the real world. YOU ARE THE MESSENGER, NOT THE MESSAGE!

In Feb 2010 the Judge asked the parties if they were ready for her decision on the deposits, JPM and WMI both said go ahead your honor, it was Stark of FDIC that asked for more time. It should have been clear to us right there that they were working on a settlemet. Now time goes by and you end up in court again on March 3rd, the Judge is ready to render her decision, but this time you ask for more time to research it. Now what exactly do you need to research. As in TPS, the Judge ruled for Chase. It is possible Rosen knew the Judge was going to rule for Chase then also. TPS was way later, but look how she ruled for them. It is possible Rosen was tipped she was leaning in Chase's or FDIC's direction on the deposits. "MAYBE" You sit down with your client, they are telling you to settle (Smith testimony at confirmation, Kosturous testimony at confirmation) you do what you client wants, they don't want to take a chance on this judge ruling for FDIC or JPM, so a GSA is agreed to and you announce it to the court on March 12th.. Only problem, someone was trading a little too soon and it was obvious to a now PO'ed and very active equity that this occurred.


In Dec 2010 a Guy named Nate Thoma alerts the judge to some interesting trading patterns from the guys who were talking with A&M and are the Senior debtholders who were nice enough to help draft the GSA for all parties except those pesky shareholders, OH BOY, now the Fireworks get started and all you can do is litigate claims and wait for the hammer. To stop the Seniors from getting toasted and most like disallowed, you craft a new settlement with the "out of the money" group who now has everyone by the cohones, not much you can do about it now, they ( all the other parties) were greedy and you are just a counselor..and that Susman guy is one tough negotiator that you are not happy to be opposed to, so maybe you can sit on his side of the table without sitting there.

Sounds like Rosen is being forced to switch sides to me!
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Zitat Large Green:

fsshon, excellent and well thought out reply. There is no doubt that A&M are a huge part of this travesty. There is no way billionaires do not defend their investment such as Bonderman, unless something way below board has happened to get their money back or they would have NEVER been a billionair to start with. AS you say Rosie, maybe switching sides and I agree however, that would mean the samething...settlement. It may not be possible now and much depends on how Susman plans on playing his cards for Rosie to switch back to Equity.

IMHO, there is no doubt one or several of the Horsies will put Rosie at the settlement table along with A&M and even if Rosie was not at the exact settlement table, the EC's conflict counsel will have found emails or cummunication nailing him. Also do not forget Quin Emanuel, as they had a secretary who left right after their problems with Weil came to light and I feel she or another one from Quin Emauel gave information to Susman and/or Venable information to nail Rosie on current and past behavior. At any rate, I still say a settlement or something VERY positive for Equity has to happen BEFORE number one, depositions and/or number two, Susman's objections/Confirmation Hearing come to light. At the very least Equity is included, which will mean a Confirmation Hearing that takes under an hour.
------
Zitatende


MfG.L:)

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Zitat never-again:

This'll be over when it's over , not 1 minute before-not 1 minute after the final delay has been dealt with . The next chance for the next delay is just a moments notice away. The potential number of delays is not infinite but seems to be undetermined and dynamic.

Whom ever is not getting their way at the moment causes the next delay. With so many potential loosing parties, every development brings even more potential for delay. Everyone is entitled to be heard, so the wait continues while the battle escalates. Seems all that any party can do is cause a delay; a delay that hopefully will lead to someone getting caught with there pants down.

SUSMAN WILL END THIS  eventually. It will end when he nails JPIG and FDIC slimy @sses to the wall hard and fast or pulls on the loose thread that unravels the sweater to reveal their nakedness. He may have to cause some delays to do that.

This will go on until the very last minute. If any one can tell me the number of delays left to be seen, I can tell you when it'll be over. Until then, study the DD, research S&G, and have faith.
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Zitat fsshon:

I agree to a point, but that 40M per month burn rate is eventually going to cause this trial to speed up and the Judge's calendar to clear much quicker.

Rosen has been slowly working into the calendar as fast as he can. She has been accommodating. She wants this over as quickly as possible also, but remember a year ago when she asked Rosen why he was in a such a hurry?
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Zitat mordicai :

the dimeq objection indicates there is no such burn rate...it is just taking money from one pocket of the creditors to that creditors other pocket.
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Zitat Large Green:

mord, you are correct and that I fully believe as I read it also. The only thing out of Rosie's mouth that was correct was when he said Equity classes would be in the money, under his other scam plan.
--------------------------------------------------
Zitatende


MfG.L:)

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Zitat xoom:

Interesting read. Thanks to Gov from Y. (Conclusion......Pg 129)
GB Shaw quote is PRICELESS


app.filesdirect.com/info/...x?ece16503f0014393875a941dbca415f7


JMHO

ZiTATENDE

MfG.L:)

Wenn Suzi nichts mehr in der Hinterhand hätte ,wäre der Drops hier schon längst gelutscht.JPM wird schon eingeständnisse gemacht haben,die aber keineswegs im entferntesten Sinne mit einer Abfindung zu tun haben.Was mir überhaupt nicht in den Kopf gehr,isst dass Mary so lange die Füße still hällt und sich ständig hinhalten lässt..

PS.ich möchte doch darum bitten hier in diesem deutschen Forum auch deutsch zu schreiben . Meiner einer ist der englischen Sprache nicht so mächtig. Danke.

cf.juggle-images.com/fit/white/600x600/...ington-mutual-2.jpg" style="max-width:560px" /> 

....und werde es dann natürlich mit Stolz tragen....

Genauso wie:
www.fanshop-online.de/catalog/product_info.php/products_id/2701
und
www.styleon.de/mode/freche_shirts/t_shirts/...sfeind.html?td=F