RajuSondh
19 시간 전
Have you guys noticed that this page is recently updated with a lot of new info - or probably it is me because I haven't visited it in a few years..
https://www.fdic.gov/bank-failures/status-washington-mutual-bank-receivership
The DBNTC-JPMC-FDIC Settlement did not resolve certain claims by the Receiver against JPMC, including the Receiver’s claims against JPMC relating to its alleged participation with other banks in manipulating certain benchmark rates and markets. It also preserved all claims of the Receiver against other persons who caused losses to WAMU prior to its failure, including claims relating to restitution orders and all regulatory and supervisory claims of FDIC-C. The Receiver anticipates that it will make a final distribution at a later date, however, consistent with the depositor preference scheme provided in 12 U.S.C. § 1821(d)(11)(A), it is unlikely that the Receiver will have funds to distribute to holders of receivership certificates issued to WAMU subordinate note holders or equity holders.
lodas
1 일 전
For those of you that still believe that more recovery is coming, the era of WAMU/WMI is over 13 years ago, with all parties to the amended POR7, GSA, and the chapter 11 closure in agreement......a new dysfunctional financial order has begun under the DJT administration...the old way of life for many, and perhaps you, will be impacted by the actions taken by this administration....already hundreds of thousands of government, private jobs have been eliminated...Stellantis Motors, as well as GM intends to lay off thousands of assembly workers making electric vehicles, cuts in government nets for healthcare, SS benefits, Food safety, health agencies, and so forth are extant, and more cuts in government programs are on the horizon...many of you that post on this board are arrogant, smug, falsely erudite about events that have, or will be enfolding as the next 4 years move forward with this administration..... I strongly advise that the focus of your attention should shift from this Wamu saga, and attention given to the protection of your wealth, and your way of life......what is a fact is, that higher interest rates, inflation, and the Dollar Dominance is under question by world markets who BUY OR DEBT.....The U.S. Treasury is the agency that bankrolls the american engine to SELL Bonds, T Bills to world markets... as of now, the perception of the USA is not rosy as before these tariffs were enacted.... the seminal question now is: will countries BUY our debt, or will those countries with huge surpluses redeem the Treasury Holding they hold?......if we cannot sell our debt at reasonable interest rates other countries will want higher interest rates to buy them!!!!....this will cause massive inflation, and budget deficits to rise even beyond the 36 trillion dollars that we presently have...in addition, DJT is pressing congress to pass the 4 trillion dollar tax reduction, and spending plan....my point?... quit the bulls**t posting about returning assets from WAMU/WMI and concentrate on how to preserve your wealth in view of what is coming if this administration fails to deliver on the promises made by the DJT administration...is your portfolio insulated from loss in equity securities, is your wealth put in a Trust?.... just some of the questions you should ask yourself... to be forearmed is to be secure.... Lodas
sunshinevibrations
2 일 전
Now that people are dumping U.S. Treasury bonds because they're fearful of the uncertainty of our government's actions, we can expect mortgage rates to rise. I don't know, but as holders of the shares of a company that is dependent upon a healthy mortgage market, this doesn't seem good. None of us should be downplaying this madness or ignoring the impact of politics on our personal investments. We have every right to be pissed because none of this had to happen.
This from Rocket:
The ripple effect of bonds on mortgage rates
The ripple effect of these shifts is felt in mortgage rates. Mortgage lenders set their rates slightly above bond yields to attract risk-averse real estate investors while offering them a safeguard through property collateral.
This means when bond rates go up due to dropping prices, mortgage rates generally grow to match the trend. On the other hand, strong bond markets with high prices and low yields lead to reduced mortgage rates.
https://www.rocketmortgage.com/learn/how-bonds-affect-mortgage-rates
Nightdaytrader
2 일 전
Oh Lodas, geeeez, can't you read? "ALL ASSETS REQUIRED, AND THOSE NOT REQUIRED TO BE REPORTED WERE MADE TO THE BANKRUPTCY COURT," So they reported assess not required to be reported. So what? That doesn't mean these are the non-bankruptcy assets and even if they were, it doesn't say those assets were turned over to bankruptcy court. You're working too hard trying to convince us nothing is coming back. Tell your boss it's not working and I want my money, and soon idiot.
lodas
2 일 전
DJT tariff actions is causing a fundamental shift in the safety of American Bonds, and the Dollar as the reserve currency.... read on from experts on the subject:
By the numbers: The yield on the 10-year U.S. Treasury note was 4.57% as of 11am ET Friday. That level is not worrying (rates were higher as recently as January) but the speed and direction of travel are.
The 10-year yield was under 4% one week ago.
Meanwhile, the dollar index — the dollar's value versus six other major currencies — is down 3.4% since Tuesday and 9.2% since mid-January. Those are massive swings by the standard of the most liquid global currency markets.
Between the lines: It suggests that erratic leadership, ballooning fiscal deficits, and rapidly eroding diplomatic ties are making global investors wary of being too exposed to the United States.
What they're saying: The market, Deutsche Bank currency strategist George Saravelos wrote, "is re-assessing the structural attractiveness of the dollar as the world's global reserve currency and is undergoing a process of rapid de-dollarization."
Of note: It kind of got lost in the news shuffle given the trade and market shifts, but also this week the House passed a budget blueprint that lays the groundwork to extend President Trump's 2017 tax cuts.
It allows Congress to raise fiscal deficits by up to $5.8 trillion over the next decade, relative to current law under which those tax cuts expire at year-end.
The Capitol Hill action wasn't an apparent catalyst for the bond market moves. Still, it underscores the risks investors are taking by lending to a nation with already high deficits and debt.
Zoom out: In the near term, it implies that investors can't benefit from the usual shelter-in-the-storm effect. If you have a portfolio of both stocks and bonds, it helps if one zigs while the other zags, but that hasn't happened this week.
In the medium term, it could mean structurally higher U.S. interest rates and more market pressure to reduce deficits.
In the long term, if this really does prove to be the start of a reshuffling of the global economic order, trade, and financial flows, the implications are so sweeping that they're hard to even predict.
The bottom line: Markets can behave weirdly, and maybe this will turn out to be just a few bumpy trading days. But the world's most important financial markets — for the dollar and Treasury securities — are signaling that something fundamental is shifting beneath our feet.
Lodas
lodas
2 일 전
@ Large Green.....your assertions that since WMI opened a DST, then there Must Be Assets..... you are being intellectually Dishonest because you read the documents biased in your erroneous beliefs.... to wit:....this is what the documents say:.....WMI dissolved the 7 trusts of WMMRC, and the assets held in WMIIC and placed them in a DST for payments to claimants in the chapter 11 reorganization....WMI makes the statement, that ALL ASSETS REQUIRED, AND THOSE NOT REQUIRED TO BE REPORTED WERE MADE TO THE BANKRUPTCY COURT!!!!!!!!!!!!!!!!!!!!!..... what dont you understand about that official declaration!!!!!!!!!....the simple fact is, LG, is that the chapter 11 closed 13 years ago with all parties to the agreements in satisfaction to their claims... Mike Willingham, and Susman made the statement on behalf of the equity claims they represented that the settlements from the COURT ORDERED MEDIATION INTO WMI'S ASSETS WERE FAIR AND REASONABLE!!!!!!!!!!..... what dont you understand about the statement made by Susman, the high profile attorney that represented equity in a Federal Court arbitration hearing!!!!!!!!!!.... give it up man, your posts fall on deaf ears after all these years of producing nothing but false hope..... Lodas
Large Green
2 일 전
nhtrader, I tend to agree with this summation. After researching (DST) Delaware Statutory Trusts, I have posted many years ago and many, many times that a DST will play a vital role in our eventual distributions. In the Amended POR 7 signed by the court on 2/23/2012, a DST WMI was opened, and the Trustee for several years was William Kosturos; however, I think the Trustee changed. I do not know who it is currently.
...
sunshinevibrations
2 일 전
BREAKING: MAGA world erupts in outrage as Blackrock CEO Larry Fink announces that the United States may already be in the midst of a recession thanks to Donald Trump's disastrous tariffs.
He added that America has become a "global destabilizer" under the MAGA regime and he wasn't done there...
"I think we’re very close, if not in, a recession now," Fink said on CNBC.
"I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day pause on the reciprocal tariffs — that means longer, more elevated uncertainty," he added.
While Trump has dropped the tariffs on most countries down to 10%, pausing the outrageously inflated numbers that he temporarily imposed, he is still locked in an escalating trade war with China.
"Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense, and it will become a joke in the history of the world economy," stated Chinese officials.
Just today, China bumped its tariffs on American goods from 84% to 125% in response to Trump placing an effective 145% on Chinese goods. In addition to skyrocketing inflation, these tariffs are going to destroy American small businesses who rely on those imports.
By slapping the tariffs in place so haphazardly and suddenly, Trump failed to give U.S. companies adequate time to resource their supply chains — meaning that many will wither and die.
Fink stated that Blackrock's clients are facing "uncertainty" and as a result the world's largest asset manager is "spending more time with more conversation with more clients globally than any time. Our job now is to be, you know, helping, calming, giving them, giving them ideas."
"This is not a pandemic. This is not a financial crisis. This is something that we’ve created," he continued. "As I said, also on Monday, United States, post World War II was a global stabilizer. We are the global destabilizer."
"That’s a very hard thing to say, because I pride ourselves of being, you know, bringing the leadership, bringing the conversations," said Fink. "But I will say the power of U.S. capitalism is still alive."
If these tariffs are not reversed soon, the damage could be irreparable. American economic growth will stagnate and countless millions will be immiserated.
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