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Washington Mutual Preferred fka WAMPQ RSS Feed

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Moderators

WMIH

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 ___________________________________________________________________________________________________________________________________________________________

  This board is for discussion of Washington Mutual Inc. old ticker WAMPQ Now  (WMIH)
(WAMPQ) R series OLD 
CUSIP 939322814



If you find any other useful information, please reply to one of the moderator's posts, and we'll add it to this IBox.

Pre  Bankruptcy 2008   http://www.youtube.com/watch?v=A0OaEofs-2I

The FDIC decided that $1.888 Billion was a just and fair price for the bank. It is interesting to note that the auction offer presented by the FDIC permitted banks to bid $0.0 for the bank, and also totally disregarded the stockholders and bondholders, as well as other liabilities of the bank. The FDIC required only the administrative costs for the transaction, and held the bank for only a few hours before ownership was transferred to JPMorgan Washington Mutual Bank was forced to file Chapter 11 the following day. They lost $26 Billion in stock of WAMU (WMB) due to the bank seizure. 

The recent declines in the stock market are well known, but few people realize that WaMu may have been the straw that broke the camel's back. This seizure impacted not just Washington Mutual Inc investors, but all types of investments in all US stock markets. Shock waves have cascaded throughout stock markets worldwide. This leads one to question whether Washington Mutual Bank should have been seized that September evening. The sale of WAMU, for a fraction of its worth, was conducted without regard for the bondholders or shareholders of the bank, much less for the effects to the confidence in our stock markets and our government in general.

 Purchase and Assumption Agreement:  http://www.fdic.gov/about/freedom/Washington_Mutual_P_and_A.pdf

CHAPTER 11 :   http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter11.html#reorg                                                                                                                                                                                  

 Video on What Happened: revelationsmedia.com/

 

 

   

 Series R, Trading as WAMPQ

These can only be converted into common, and cannot be redeemed for cash.

Old symbol: WM.PRR, Issued 12-17-2007.

Outstanding: 3,000,000. Liquidation Value: $1,000

Interest Paid: 7.75%

On December 17, 2007, WMI issued 3,000,000 preferred convertible shares, at a price of $1,000, to raise approx $2.9B.
These were paying 7.75% interest.

Summary: http://www.secinfo.com/dr643.uCc.htm

 Prospectus:http://www.sec.gov/Archives/edgar/data/933136/000095013407025552/v36537aexv4w1.htm

                                                                          


___________________________________________________________________________________________________________________________________________________________

                                          Washington Mutual Inc. has reorganized to Washington Mutual Holding Inc.
                                                                                 (WITH SHAREHOLDERS INTACT)





 
     WASHINGTON MUTUAL EMERGES FROM BANKRUPTCY ON 3/19/12
 

             WMI START