Victory for WaMu share holders, Shame on WaMu
Today A bankruptcy judge Mary Walrat denied a request by Washington Mutual Inc to disband a committee to represent shareholders. This is a good news for the WaMu share holder because this will give them more protection in up coming settlement. They will have their voice heard. As I mentioned on my previous article titled( Justice for WaMu 14) you just can not trust the bankers.here you have it, WaMu not JPM, asking the Judge to disband EC, the only protection the share holders can have for now. What a bunch of crooks.( Let’s face it; WMI is lead by bunch of old school bankers, just like any other nasty bankers they don’t care about anybody. They will gladly take from JPM what ever amount that can suits their plan. And what plan is that? to payoff bondholders and then exit a bankruptcy and wipe out all the equities. Justice for WaMu 14)
The good news is that everything is going fine for the share holders so far. EC now is official, and the share holders have their representative, this will JPM all the right to open a negotiating channel EC as sole representative of share holders, and that will scare the hell out of WaMu and their Lawyers. My predictions are getting closer to become a reality, here is what I mean by that, please read this part of my last Article
(JPM has the best legal team for defending JPM interest. They will pull all kinds of trick to beat WAI’s legal team and not to pay anybody indiscriminately. But that’s their right to do so, which I don’t think they will go that distance. But if they decide to settle, which is more viable in my opinion, and then they will take all or nothing. By that I mean, JPM’s legal people will come up with a settlement that will require an equity committee signing away(on behalf of the shareholders) its rights to pursue further litigation against JPM. Because JPM and FDIC they Know, first and foremost per-seizure holders were subjected to criminal and conspiracy activities, therefore the consciousness is much Sever if the court find them guilty, then several people from both side JPM and FDIC might end up in jail. Therefore JPM and FDIC will be forced to settle this ASAP. ..Justice for WaMu 14.)
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