Washington Mutual Preferred fka WAMPQ

[BullNBear52]

It's going to be real ugly Monday morning when the Wamu shareholders finally figure out the bank was a bust.

http://finance.yahoo.com/news/WaMu-deal-resolves-fallout-rb-1878119386.html?x=0&.v=1

The judge allowed the shareholders to join in the BK suit involving Wamu's holding company against JPM and the FDIC.

Shareholders also are likely to fight the agreement. An attorney for the official committee of equity holders told the court that nobody told him about the settlement.

Apparently he was the only one that wasn't aware that the judge had granted a continuance until TODAY.

Case closed.