My sig has something that is on wamuequityrights, they seem to think the commons would be in the money if WMI gets all the NOLs.
I don't think there is something more to cover from the FDIC and JPM. I think the plan from the beginning was to wipe out equity and get out of bk with a new company that bondholders will own. However, the NOLs screwed their plan up. If they got JW to rule on the 4 billion and got all the NOLs back, the company is solvent. Rosen couldn't allow that to happen, so he gave away the NOLs before they appeared on a MOR. He works for the bondholders, not shareholders.
I really think he was planning to seem to have equity covered and then out of the blue, wipe them out before anyone could stop him. I believe WaMu feels comfortable giving billions away to FDIC & JPM because that way they reap a windfall with owning a new company, as opposed to just getting their bonds paid off.
