Washington Mutual Preferred fka WAMPQ

[seth06]

You know more than I that's for sure, but my take on it is that she had no alternative as by being a "security" by definition they did have a legal claim if and only if the FDIC did not exercise their right first to make the claim, which would not be in their best interest IMO, therefore hjmw had to leave the door open for them regardless if the claim has any chance of success, which imo has no chance. All in all I would say the box was just made smaller that circles the FDIC and jpm with their own maneuvers...great day for wamu shareholders...aimo