Washington Mutual Preferred fka WAMPQ

[maekuz]

I think they will divvy up the NOLs but not all of the amount will go to equity. Therefore i am expecting a massive haircut to the prefs and as a result a low offer (around $0.1 or $0.2) for the commons.

BR has to offer something for the commons since Mike Willingham owns commons only.

In the end i expect the prefs to be paid FV but the first offer will mean a haircut to the prefs.

aimho