Lehman ABS CorTS 2001-08 7.375% General Motors (CCYPQ)

[marayatano]

Not sure what you mean about $100 dumped to $20.

RS is usually pinkie stocks. The new GM is targeting hedge funds, mutual fund, institutional funds (long term holders) and the retail investor. So, imo, no RS. GM is a house hold name and the pro "Americans" will buy and support the pro American companies, imo.

The direct GM senior/general creditors will get their shares/warrants sooner than CCYPQ because they are a direct holder of the security. Here, you are an indirect holder with a Trustee involved, so you would get distribution later.

As for Wamu, I wont tell you what to do, but I feel that preffereds will get something at the very least.

imo