Washington Mutual Preferred fka WAMPQ

[steved_45]

So please explain to me a mere dummy with little to no edumakation how P’s are any better off than the common share is? Doesn’t PORv6 pretty much wipe out the preferred shares as well? Please explain this new math where 0>0=X for the P’s or is this something you have just thought of?

Good question. At the age of 3 or 4 (maybe as early as the age of 1--i don't remember :) we learned that when given the choice of 2 options, to always select the better option. i.e. icre cream cone instead of a carrot, monster truck toy instead of a rock, etc.

We have to assume that the other members on the EC exercised such simple logic as well by rejecting Willingham's 'rob peter to pay paul' proposal b/c the other side of the deal would give more money to preferreds.

Whether preferreds are still getting b/t 0-1% with the alternative could still be reality. If that's the case, then Willingham's proposal must have been worse.

Do you agree with me about my theory that the alternative must be better for preferreds?

P.S. thanks for including numbers and facts in your question as to bring logic to the conversation yesterday. Even if you don't agree with me, reason based on facts is much more civilized than blind emotion.