Washington Mutual Preferred fka WAMPQ

[lxu0077]

We should try to find out more about this.

"The WaMu claims stemmed from a swap agreement it had with Lehman’s special-financing unit, according to proofs of claim filed by JPMorgan. The New York-based bank paid itself back for what was owing by taking collateral deposited with it by Lehman, according to the claim documents. Lehman had objected that $80 million of the collateral was part of a guarantee agreement that JPMorgan wasn’t entitled to draw on".

Wouldn't it be funny if this so called "Wamu claim" was the CDS against Wamu(betting wmi/wamu will default) that JPM bought from Lehman? If that's the case, we can now prove that JPM bought CDS on WMI/Wamu before it was taken over. Lehman filed BK before wamu did.