Washington Mutual Preferred fka WAMPQ

[B-T]

All the negative posting about the fact that no liquidating event has occurred obfuscates the issue. If there is no liquidation then the business BOD is supposed to declare dividends to be paid. If they cannot meet the obligations of the prospectus then a liquidation may be the best course of action. In that case we would be due the $1000 per share. If not, then we should be getting $77.50 per share in divis. Either way works for me. I think with the SJ ruling and the tax refunds there should be plenty of money to earn the necessary money to distribute dividends, or buy out the shares starting in 2012 according to the schedule of values in the prospectus.
I'm hoping there is a decent settlement offer annouced in court today, or that we get a favorable ruling on the FDIC stay.