Washington Mutual Preferred fka WAMPQ

[MasterBlastr]

If you throw in the unpaid dividends, 10 quarters now at annual 7.65%, compounded quarterly = (1 + (.0765/4))^10 = 1.208 so $1208 per share now for the P's fully paid + dividends. So that makes the figure $3,624,000,000 to make the P's whole, give or take. And $4,000,000,000 for TPS, and $500,000,000 for the K's. We need about $300,000,000 before the payout reaches the preferreds. That leaves us just over $8,600,000,000 before commons get paid, if the waterfall is strictly observed. Anyway thats the scorecard the way it seems to me.