Washington Mutual Preferred fka WAMPQ

[Lawrence 147]

Here is the biggest question. Where is the Chinese money? Did it convert to commons when TPG converted? Another question is did policy change with the new administration? Could a new administration cause a change in the financial world, really? The U.S. government gave up that power in the early 1900’s. Gold is not the answer, as the Chinese would not have been snookered into buying so much of it, Oil is not the answer as there is a 32-day supply of it. If this new administration wants to wrestle away the powers of the banking world they need to come up with a new currency backed by a new commodity. A new world currency is not the answer, except possibly for trade, but this would not bode well for the U.S.
Think of this mess, as a puzzle within a puzzle, a nice picture on the box would help. At this point I am leaning towards bringing down the Chinese and WMI is just a casualty in a far more complex game. I see no concern to make the Chinese whole or even partial. It does worry me about my investment in the commons as they might just get wiped out as a statement to the Chinese if their investment was converted to common shares.