Washington Mutual Preferred fka WAMPQ

[Bizreader]

By the way! The governor of Indiana is taking a stand against the FDIC about the very same topic but in a different business: GM BK.

He was on CNBC yesterday saying the very thing about the pension fund and preferred bond holders that we are saying here: the government can't just walk all over the most precious aspect of the investor incentives!

With the banking system it's even more important that a reasonable redistribution of debt and equity be done. The auto industry had 30 or more years to catch on; the day a Toyota landed on U.S. soil auto makers should have changed their tune.
But it's been only a few years now since bankers saw the writing on the wall with the subprime and derivative mess.

I just have to believe some type of compromise will be made here and WMI will be paid at least half of what they were worth discounted!