Sometimes it seems like people in this thread think the DOJ is a 10 person office dealing with one client at a time and there are a total of 20 people to pay out.

Their new update is that they don't know what the hell is going on. I'm encouraged.

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Bureaucrats almost always use vague but absurdly optimistic language when it comes to describing 1.) their expertise, and 2.) their timeframes. We've seen example after example in the FTP saga alone.

When they admit in plain language they are currently clueless AND that they are going to take a long time to get a clue, that's a really, REALLY bad sign IMO.

I want my daddys records.

Somehow, PokerStars was able to figure it out pretty quick.

I'm assuming the people running this ship are either as skilled as your local DMV worker or extremely crooked. Maybe both.

...but this is not the case of a business/peoples being overwhelmed. This data is all easily put into a database and sorted.

They're just juicing our funds.

So they basically clarified what had already been posted by several others already.

Oh bureaucracy.

94% of balances is under 100 dollars or less.

that's some nice sidecash if they can make all the proles with happy meal bankrolls forget they even have money coming to them.

they probably are also getting interest on sitting on all that money.

One good thing happened to me out of reading this thread tonight

lol time to process the data and make a formula?
how about u just pay ppl their ****ing money that it says on their balance minus any phantom funds still in people accounts.
This is not an investment bernie madoff case where they have clawed back money from the early winners and given investment back to the later losers.
this was a ****ing gambling site not an investment ponzi. people weren't guarantee any return from gambling. they lost it legitimately why should they be given anything back. the winners did this for their job and put in alot of hours in(unlike the early bernie madoff ppl who just set it and forget approach) why should they be penalized and have their winnings clawed back potentially.

This was the obvious outcome from the beginning, it's the government! Take forever and leave most people involved unsatisfied. To believe otherwise in any case is madness.

You have come a long way ShipItYo.

I'm going to say this 1 time for all you guys that are not smart. The depositors have more power in this situation than anyone. We have all the money that fueled your futile existence. We get what we want. Book it.

The DoJ would never make anything that simple. Simplicity is too complicated for them to handle.

sit both sides in an office with a moderator like they did for nhl and nba labor disputes for a few days up to 10 hours a day than this would get solved within a week let alone months

Alex,
Like you I also have alot of money tied up on FTP, a little more actually, I beat you heads up in the FTP 2.2 mil just before BF, and I am curious as to what you think Calculation formula really means and are we basically drawing thin to receive our balances from those tournament wins and if so what is our recourse if any? I like yourself and many others am displeased with how everything has turned out, and like everyone else want this to be over with.

Here's the thing. They are already decided on a.repayment formula, so now it's just irresponsible not to tell the victims.what that is so at least they have an idea. Sigh. Now if ever I just wish they could tell us.what repayment is based on.

source?

So you're happymon32?

Anyway, I don't know what that means. It could be a simple formula that ends in balances, it could be some convoluted multiply to the "x" power divided by Q over 7 that leads to people getting percentages of deposits depending on the moon phase we're in.

Kinda redic that FTP had all this info all along and just now the GCG is getting a hold of it. And I hope "formula" means something to do with FTP's added in.

That is so spot on man, people have this idea that the banks have all our money sitting in a vault but that's the furthest from the truth. Even by law they are only required to keep a small % of our total deposits at any one time. If there was a massive run on the banks tomorrow or if the bank had to suddenly cease operations like FTP did, they would not be able to cash most people out. This is not to excuse Full Tilt but just to say that even some of our most trusted institutions operate in a manner that is eerily similar.

FYP

We call this guy "Mr Elevenerife"

As in "You've been to Tenerife? Oh, I've been to Elevenerife."

Whats all this "were waiting on the courts" talk that weve been hearing about from GCG for the last 6-8 weeks. That GCG was simply waiting to be told what to do and now all of a sudden GCG is in charge and is working with the DOJ to come up with a formula? Really makes no sense at all anymore. What the hell has been going on the last 3 months with the DOJ and GCG that they just now are receiving the FTP data. What the hell has DOJ been doing the last year with the FTP data that it now has to be analyzed and interpreted. Pretty sure 2014 along with receiving 100% balances just went out the window.