Washington Mutual Preferred fka WAMPQ

[Mik3k]

"TPG did this with their loss on WMI stocks as a write down. In the event WMI stock recovers, TPG write up the assets. (There was a article of some sort)."

Is this true? Then why would WMI need to abandon WMB stock and not just write it down and retain ownership of the shares?

Perhaps a backdoor way to grant the FDIC releases by abandoning the stock rather than writing it down?