Wamu WKN 893906 News !
NYSSA SmartBrief | 05/04/2009
WaMu, the holding company that once owned the failed Washington Mutual Bank, is asking a bankruptcy judge to let it look into the possibility that JPMorgan Chase illegally damaged the bank in hopes of diminishing the value of its assets and buying them at a bargain. The holding company said in a motion that JPMorgan Chase engaged in "sham negotiations" intended to get an unfair advantage in negotiating to buy its assets. CNBC (05/01)
Quelle: http://www.smartbrief.com/news/nyssa/...7-2255-4B9D-AA22-A13867548345
http://www.chart-von-jan.de/html/wmi.html
www.nc65-charts.de unter (user anfragen auf wmi klicken)
...sehr spannend zur zeit!
By Brendan Pierson
Law360, New York (May 04, 2009) -- Washington Mutual Inc. has asked a
bankruptcy judge for permission to investigate whether JPMorgan Chase
& Co. deliberately depressed the value of Washington Mutual's banking
assets before they were seized by the Federal Deposit Insurance Corp.
and sold to JPMorgan in September.
In a motion filed Friday in the U.S. Bankruptcy Court for the District
of Delaware, Washington Mutual asked to conduct an investigation under
Rule 2004 of the Bankruptcy Code into allegations in a lawsuit
recently filed by Washington Mutual investors against JPMorgan
alleging that it drove down the value of Washington Mutual's banking
unit, Washington Mutual Bank, by abusing confidential information.
The investors sued JPMorgan in February in the U.S. District Court for
the Southern District of Texas. They alleged that JPMorgan engaged in
“sham negotiations” with Washington Mutual throughout 2008 about
buying WMB in order to obtain confidential information about
Washington Mutual.
JPMorgan then shared the confidential information with WMB customers
to persuade them to withdraw their deposits, leaked information to the
media to depress WMB's stock value and ultimately used it in its
negotiations with the FDIC, the complaint alleged, allowing it to
acquire WMB's assets for a “fire sale” price. JPMorgan paid $1.9
billion for the assets.
“The complaint filed in the Texas action ... lays out a premeditated
plan by JPMC designed to damage two of [Washington Mutual]'s most
significant assets — WMB and (subsidiary) WMB fsb — so that JPMC could
purchase WMB's assets on the cheap, to the severe detriment of its
largest stakeholder,” Washington Mutual, the company said in Friday's
motion.
Washington Mutual said that if the allegations are true, it might be
entitled to recover some of the capital it transferred to WMB last
year, which amounts to about $6.5 billion, since the transfers could
be considered fraudulent.
An attorney for JPMorgan could not immediately be reached for comment
on Monday.
Washington Mutual is engaged in two separate adversary proceedings
with JPMorgan. It said there would likely be little overlap between
those proceedings and the proposed Rule 2004 examination.
Last week, Washington Mutual filed an adversary complaint against
JPMorgan in an effort to recover more than $4 billion in demand
deposits, which JPMorgan claims it purchased when it bought Washington
Mutual's banking assets.
Washington Mutual said it had been going through the bankruptcy
proceedings for seven months without two of its most valuable and
liquid assets, more than $4 billion in demand deposits at former
subsidiaries in Henderson, Nev., and Park City, Utah. Those deposits,
according to the adversary complaint, were owned by Washington Mutual
and are specifically held in accounts for its use.
Washington Mutual also sued the FDIC in late March in an attempt to
recover the $6.5 billion in capital contributions to WMB, along with
$4 billion in preferred securities and $3 billion in tax refunds
related to the sale of WMB's assets.
The complaint blames federal regulators for selling the failed bank
for only $1.9 billion, and claims the FDIC had no right to sell
certain property, among other things.
A few days later, JPMorgan sued WaMu seeking a declaration that it is
the rightful owner of at least $7.9 billion in disputed WaMu assets,
including $4 billion in core capital for the former WaMu banking
operations, $3.7 billion in deposit credit and $234 million in tax
benefits, as well as intellectual property, Visa shares and employee
benefit funds.
JPMorgan also intervened in the other action brought by WaMu against
the FDIC.
On Sept. 26, WaMu filed for Chapter 11 protection, citing
approximately $33 billion in total assets and $8.2 billion in debts.
Washington Mutual is represented by Elliott Greenleaf and Quinn
Emanuel Urquhart Oliver & Hedges LLP.
JPMorgan is represented by Landis Rath & Cobb LLP.
The case is In re: Washington Mutual Inc., case number 08-12229, in
the U.S. Bankruptcy Court for the District of Delaware.
--Additional reporting by Jesse Greenspan and Evan Weinber
http://www.law360.com/articles/99770
man muss einsteigen bevor es die masse erkennt,dann gehört man zu den gewinnern.
soll keinen dazu animieren zu kaufen,das soll gefälligst jeder selber entscheiden wozu er gehört!
früheinsteiger=selbstbewusst
aufspringer =looser
Die FDIC besetzt Beraterposten neu.
US FDIC brings on new general counsel
Mon May 4, 2009 10:23am EDT
Market News
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More Business & Investing News...
WASHINGTON, May 4 (Reuters) - The Federal Deposit Insurance Corp said on Monday it has appointed Michael Bradfield, a former Federal Reserve general counsel, as general counsel for the agency.
Bradfield's appointment is effective on Monday. He will head up the FDIC's legal division, which handles legal work on regulatory issues, FDIC transactions, litigation, and corporate and commercial claims.
He joins the FDIC as it seeks to expand its role to become the agency responsible for winding down troubled, systemically important financial institutions. The FDIC currently has the power to wind down failed banks, but does not have similar authority over bank holding companies, insurance firms, and other types of large financial firms.
"His depth of knowledge of domestic and international banking issues as well as his extensive expertise at the Federal Reserve Board and the U.S. Treasury will serve the FDIC well at a critical time," FDIC Chairman Sheila Bair said in a statement.
Bradfield was previously a partner at law firm Jones Day, focusing on domestic and international banking, mergers and acquisitions, federal bank regulatory matters and international trade. He also previously served as the Fed's general counsel under former chairmen Paul Volcker and Alan Greenspan." (Reporting by Karey Wutkowski, editing by Dave Zimmerman
http://www.reuters.com/article/...ntFilingsNews/idUSN0439300220090504
Interessant.
JHD it is possible that we could see the 1:3 split for commons.
1. FDIC gets 500Bil for "bank failures" and more ability to save ailing banks. FDIC is in charge of insuring depositors.
2. FDIC hire heavy hitting lawyer from Fed Reserve.
3. JPMC is being sued in 2 different states for "breach of confidentiality" this part of negotiations is at the heart of contract law.
4. JPM needs to make this right, FDIC will work out some sort of deal with JPM to cancel the lawsuit once JPM acquires WMI. If JPM is too acquire WMI, it must be at least the amount they offered. However, 300B in assets 30B liquidity in Sept 2008, makes this possibily a $12-15 PPS buyout. JPM will not pay that, they won't pay that, they will convert commons to JPM commons (which they will issue) they will payoff all Preferreds and plaintiffs n lawsuit n Texas.
5. FDIC will funnel approx. 10-20B to JPM to make all this happen under the radar. Settlement of current DEL lawsuit.
6. James Dimon sits on the NY Fed Reserve. FDIC just hired Mike a Fed Reserve lawyer to help with leagl issues. You don't think these guys do not know each other. Believe they do and a deal has already been worked out. Look for settlement or complete buyout in the next couple of weeks (before actual pre-trial motions in courts). This will end not costing JPM 1 dime, if Jamie is a smart as I think he is, He will actually make money on this deal.
So yes we could see a 1:3 or at the least a 1:4 common conversion. If it is 1:4 then JPM will only need to issue 450M shares. i would expect a lockdown of least 30 days before any converted commons could be sold.
GLTYA Go WAMU! Not pumping, done the DD!
bei goggle gefunden-von heute.
JHD ist es möglich, dass wir die 1:3 Split für Commons.
1. FDIC wird 500Bil für "Bank-Fehler" und die Fähigkeit, um Not leidenden Banken. FDIC ist für die Versicherung der Einleger.
2. FDIC mieten schwer treffen Anwalt von Fed Reserve.
3. JPMC verklagt wird in 2 verschiedenen Staaten für die "Verletzung der Vertraulichkeit" Dieser Teil der Verhandlungen ist das Kernstück des Vertragsrechts.
4. JPM benötigt, um dieses Recht, FDIC wird eine Art Deal mit JPM, um den Vorgang abzubrechen, wenn die Klage JPM erwirbt WMI. Wenn JPM zu erwerben WMI, es muss mindestens der Betrag, den sie bieten. Allerdings, 300B der Aktiva 30B Liquidität im September 2008, macht dies einen $ 12-15 / gegebenenfalls PPS Buyout. JPM zahlt nicht, dass sie nicht bezahlen, dass sie zu konvertieren Commons Commons JPM (die sie wird) werden sie alle Payoff Preferreds und Kläger Klage n n Texas.
5. FDIC wird ca. Trichter. 10-20B zu JPM, um all dies geschieht unter dem Radar. Abwicklung der laufenden DEL Klage.
6. James Dimon sitzt auf der NY Fed Reserve. FDIC nur gemietet Mike Fed Reserve ein Anwalt, um mit leagl Fragen. Sie glaube nicht, dass diese Leute nicht kennen lernen. Glauben, dass sie tun, und eine Einigung wurde bereits erarbeitet. Sehen Sie für die Abrechnung oder komplette Buyout in den nächsten paar Wochen (vor dem eigentlichen Ermittlungsverfahren Entschließungsanträge in den Gerichten). Dies wird Ende nicht Kalkulation JPM 1 Dime, wenn Jamie ist ein intelligentes, wie ich glaube, er ist, er wird tatsächlich Geld verdienen, für die dieser sich.
Ja, so könnte es zu einer 1:3 oder zumindest ein 1:4 gemeinsame Umsetzung. Wenn es dann 1:4 JPM nur Notwendigkeit, 450M Aktien. Ich würde erwarten, lockdown der mindestens 30 Tage vor jeder konvertiert Commons könnte verkauft werden.
GLTYA Go WAMU! Nicht Pumpen, erfolgt die DD!
sollte es zu einer außergerichtlichen einigung kommen, was ich doch denke sehr realistisch ist, dann denke ich eher an Verhältnisse von 1:100 :(
bei einer außergerichtlichen einigung werden z.B, von mirvöllig aus de rluft gerissene zahl, 10 Milliarden extra bezaholt werden müssen an WMI, diese teilen sich aufdie preferts und commons,einberechne müssen nochmal 4 Milliarden an Barreserven und 8 Milliarden an Verbindlichkeiten die JPM unterschlagen hat, also effektiv 22 Milliareden.
Das hört sich natürlich sehr gut an, allerdings wer die US AMerikanische gerichte kennt und ihre Freude am Verhängen von Geldbussen, kann dieser Wert bei einer Gerichtsverhandlung UND positiven ausgang in den meisten anklagepunkten auch sehr wohl bei 30 Milliardend +X liegen ( auch von mir aus der luft gerissene Zahl)
von daher warten warten und hoffen :)
gibt es keinen realtimkurs!?
gibt es irgendwo anders einen?
Lg
http://www.google.com/finance?q=NYSE%3Awamuq
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das rote Verkauf
http://ih.advfn.com/...hart&s=NO^WAMUQ&p=0&t=26&vol=1
Also ich habe das mit den verschiedenen Klagen gegen JPM/FDIC kapiert. Und es geht mir jetzt um die div. Beträge die z.B. JPM zahlen müsste (wo nehmt ihr diese Beträge immer her?). Und warum muss die FDIC zahlen? Und warum kann ich die Höhe der zu zahlenden Beträge durch die Anzahl der auf dem Markt befindlichen Aktien teilen?
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