Fred.... just kicking back reading all of the merry making by those drinking champayne spiked with kool aid... I dont want to be a party pooper so I will just let you revel in exuberance... you asked me to comment, so here goes: it means nothing , and no monetary or stock will be issued to make former investors in WAMU "whole"... why?.... all common and preferred stock was cancelled, extinguished, and all rights to former dividends for preferred are null and void...amended POR 7 states, Title to assets belong to reorganized debtor, JPM, FDIC, and WMIL-T...WMI states stock was given in return for values held in the old company... all preferred shares were converted to equity, and equity was paid when releases were signed.... JPM got the banking assets of WAMU, and related assets... Long Beach Mortgage was a chartered Federal Bank, and JPM got those assets through the receivership ...20.7 billion dollars in shareholders equity was written off on the globic agreement for 6.5 billion in cash , and 5.89 billion in NOLS...The "WMI Action" ( WMI sues FDIC and JPM for illegal taking of WMI assets) was stayed by court action during the Deutche Bank Lawsuit, then dismissed from the "Docket" when globic was signed... JPM received 650 million in soured Putbacks from the globic settlement...again, nowhere, in any document states more money is coming in settlement for releases...WMI stated in the chapter 11 closing, all payments were made... page 96.."in no way does the estate after, or before filing chapter 11 belong to old shareholders... on, and on.... you know my position on this matter, but thanks for wanting my opinion...Lodas
