I had been living in the Seattle for years and years and in fact after the seizure I watched the unfolding banking scenario for about 3 or 4 weeks and then brought some WAMU stock. I also helped gather a group of early investors in Seattle to talk about this travesty at a bar. Don was there and I think the guy from Skagit County here was also there.
I became acutely aware that tens of thousands of Northwestern citizen had not been given the appropriate public announcement to protect their ownership in the stock that they had held for so many years participating in the local economy and the growth of that banking network.
As the years passed I spoke with many people in Seattle in my coming to going and not one of them who had held stock knew the story. They simply walked away from it because they heard that the bank had crashed. No social element was present to inform individual WAMU stock holders and the financial "services" management took the bad faith path to acquiring, disguising, and mothballing relevant information on the real value: that discussion never needed to be discussed by the BK court, btw.
That discussion, imo, was left up to KOSTUROS and those who consciously protected the huge store of value for their personal goals and abandoned efforts to do their jobs properly. In fact it could be argued that all those involved in our financial system at that level know the history and believed that they would be able to use the capital as leverage to defend themselves from the stockholders.
This extended account management engagement of KKR's may ruin them in the end.
Many NDAs have been unenforceable and many releases of liability have been challenged successfully.
No money - no deal!
