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Wednesday, January 13, 2010 9:49:06 PM
First of all I have said all along 13 months ago (you can look at my posts) that I have always feared wmi, potentially cutting out commons and making other arrangements if they could legally get away with it.
In regards to lumping them all in the same field, i don't see why not, whatever weil and co's motive, it's clear they wanted to shaft the commons and maybe even all the securities.
As I always stated and will continue to state, wamu is not a saint, it was in the banking industry just like the other crooks up there. Many of their shady loans proved to be why they sought out the help of TPG or and prevoiusly were looking for potential mergers/buyers.
We all critisize weil/wamu/jpm/fdic as greedy bastards ...and by that same token aren't they? aren't we?: we boought into this stock many months ago in hopes to make a fortune...or are you here for pure justice...you would give you shares to the needy I presume.
That being said wamu was stolen and for that they should seek justice, and not for our sake; what the heck are we angry about. we invested in the penny range. I feel sorry for the poor souls that were really screwed when wamu was illegally seized.
So spare me your attempt to protect the reputation of Rosen/weil.
In the end we all look out for our best intrest and theirs is screwing us for their benefit. In their eyes they probably figure: why should we reward the speculative shareholders that bought on pennies on the dollar.
JMHO
go EC/JOYCE
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