Washington Mutual Preferred fka WAMPQ

[mordicai]

This point has not been mentioned in months. But how do even pre seizure wmb bondholders prove WMI defrauded them by moving cash around? They would have to prove that WMI knew for certain a future event caused by a third party the fdic was going to seize wamu bank, and that the fdic was not going to get fair liquidated value for wamu, and that the buyer was not going to assume the bond liability. This is how ridiculous Walrath's decision was today throwing such a frivolous claim a life jacket.