Washington Mutual Preferred fka WAMPQ

[ptolomeo]

So, let me get it straight.

As per EC's presentation at POR Confirmation:

http://ghostofwamu.com/documents/WaMu_Closing_Equity_Committe.pdf

We (WMI, WMB, JPMC, FDIC and wherever we as shareholders are supposed to be) are disputing 33 billions on known assets (Cash, deposits, NOLs, Tax refunds and so on)

PLUS

unvalued claims (FDIC & JPM tort claims, Intellectual property...)

SO, with this POR, the settlement would bring:

Debtors get paid 100% (7.5 billion)
JPM gets 12.36 billion (they paid 1.88 billion)
FDIC, who paid 0$ to rescue WAMU seizure gets 13 billion. So instead of putting money on a failed bank, pretends to run away with some cash...
And of course, in this orgy of billions, where regular Joe common and preferred shareholder are not invited, unluckily we get ZERO!!!

REALLY?

ARE THEY SERIOUS?

DID I MISS SOMETHING?

I cannot believe there're such a crooks out there that see this reasonable or fair.

Just expect some justice over here...