When you guys are sitting here thinking about your stock in this company, I want you to read this to yourself everyday. The UST just put a veil of protection over equity...
US Trustee: "Your honor, our office recently determined, the acting US Trustee's, election to solicit interest in forming an official committee of equity security holders. Last week we reached out to the Debtors seeking a list of the equity security holders of Washington Mutual Inc's so that we could begin to get that process underway. The response at that time was "well we have other matters, we will address it when we can". I put a 48 hour deadline on my communication to Debtors' counsel December 8th. That came and went. We got to this week, yesterday received a communication from Debtors' counsel with respect to timing indicating that they anticipate to be able to get us information early next week. The problem we have, Your Honor, is that we would like to move forward with the solicitation by getting it at least started before we get to the holidays that are coming up and we cannot afford to forebare [?] on this issue into next week. We are asking for entry of a court order today that sets a deadline of December 21st for production of the list."
IMO "Time is of the essence!"
UST knows that many large shareholders will not be around for the holidays, this is why he wants to contact them today! He wants answers and I'll bet ya, he is going to put insome phone calls to find his 7-10 people he wants on the EC. I am under the impression the law Firm to represent has already been picked by the folks who atarted the process. We will see real soon.
Next Year should be fireworks.. Hang in there and keep in mind, if the UST finds discrepancies in the list, he can petition the court for an order for a new cusip (ID) # for the commons. A new symbol would come with the cusip. The shorts would have 3 trading days to cover and our stock would resemble a rocketship mentality.
Forebearance is DELAY!
~Fish~
Please do not invest in this stock because of what I say, you must do your own DD and make decisions based on your knowledge, NOT MINE!