Washington Mutual Preferred fka WAMPQ

[sf]

but the pre-takedown shareholders of preferreds have a contract, so when they went into bk, by no fault of their own, that contract was still in effect. this takedown was illegal and not due to wamu but the hedge funds manipulation and fdic wanting the OTS gone. so they had to eliminate lehman and wamu to get rid of the agency so fdic could be the BIG DOG. how can they reformulate anything knowing what the shareholders know. the shareholders bought knowing their contract conversions. how can they get around this without shareholders coming after them for fraud and collusion? they would have to uphold the conversion of pre's imo.