For all the chaps, who ask for a lowball settlement offer, don`t forget, JPM made an offer in march 08 for wmi
+ 6.800 mm for the commons (850 mm shares x $8)
included in the deal was also the assumption of some debt
+ 3.400 mm for the preferreds
+ 13.100 mm for the bank bonds
+ 6.800 mm for the holding bonds
+ 1.400 mm other debt of wmi
+ 31.500 mm would have been the total cost for jpm
in september 08 jpm bought jpm from fdic only wmb for 1.888 mm, without the most liabillities, and wmb had additional
+ 7.200 mm injection from tpg
+ 7.560 mm cayman trust assets (old 4.000)
+ 46.260 mm total (old 42.700)
take off the
- 7.800 mm losse for wmi for the Q2 and Q3/08
- 1.888 mm price paid to fdic from jpm
makes a total profit for jpm
+ 36.572 mm or 36,5 billion (old 33 billion)
this is pure capital, and therefore jpm made unjustified profit with it until now:
36.572 x 20 x 0,04(4%) / 12 = 2.440 per month (old 2.200), until now x 22
+ 53,68 mm unjustified profit (35.200 old)
+ 90.252 mm or $90,3 billion (68,2 billion old)
so jpm made an illegal and unjustified enrichment of $90,3 billion until now!
And add $2.440 mm every month from now!
And the numbers are from a jpm lowball offer!
And the reversal: some Departures:
-13.100 mm wmb bonds
-5.700 mm wmi bonds
-750 mm wahuq
-3.400 mm preferreds
- 4.000 mm caymans
-26.950 mm plus 15% for lost interests or dividends
-30.993 mm
59.310 mm, now subtract the 3.000 mm liabilities and you get
56.310 mm or 56,3 billion for a wmi without liabilities. Divide this with 1.705 billion share, and you get:
$33 per common share
add the tax carryforwards, and the diluttion, and you get 1 jpm for 1 wamuq.
QUELLE
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