Washington Mutual Preferred fka WAMPQ

[mordicai]

And the actual bill:
http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/Financial_Regulatory_Reform062410.html

Just skimming the document, it still requires that fair value be received, it requires a finding that the financial institution "would have" an adverse affect on the economy as opposed to "has had" . So I don't think it could apply retroactively. Moreover, the fdic has entered into an agreement with the debtor. Sure this agreement can go out the window if there are changes made to it i.e. money to equity, but why do the agreement in the first place if this act has retroactive possibilities. Because of the fair value aspect I suppose... the new act doesn't get fdic off the hook for fair value. jmho.