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Post# of 729277
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SamuraiProgrammer

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SamuraiProgrammer

Re: AZCowboy post# 651899

Thursday, 03/18/2021 3:38:16 PM

Thursday, March 18, 2021 3:38:16 PM

Post# of 729277
This caused a light bulb to go off today!

"rosies" 2 failed 6's were proof of asset values held outside of the WMI Holding Company



You are so right! (I am probably dim for not having realized the full impact of that statement.)

If there wasn't anything, then why not just let the normal priority cascade happen? Preferreds get caught up on interest and then paid off at par. Then commons get the rest! Any machinations other than the normal route for payment should be a red flag that someone is trying to steal something - even if they are not stealing it for themselves!

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