Washington Mutual Preferred fka WAMPQ

[etzetrade]

IMHO. Without any new investors at sight, WMI2 needs a decent situation for attracting new comers. Conveting preferrds to commons, it will make WMI2 less attractive.

I always feel that the preferrds are going to be converted/transferred into WMI2's preferrds at the same FV. Therefore, EC could avoid any argument in terms of converting rate against commons. As long as WMI2 doesn't pay dividends for maximum 20 periods, it will not hurt WMI2 since WMI2 lacks capital to work on.

Let the market to decided new preferrds' value while WMI2 resumes dividends (= get new investors....etc).

Appreciate your comments. TIA