Washington Mutual Preferred fka WAMPQ

[ptolomeo]

Right now Equity (all classes) are out of the money at around 50$ million. That's chump change when talking about billions dealed in this BK.

Remember there is a burning rate of about 30$ million each month (thank you Brian Rosen for talking your fiduciary duties with the shareholders working 25 hours a day). I was being sarcastic.

Having said that, our next possible money income should come from the SNHs and a self-imposed claim disgorgement. Wallrath said the EC had 'colorable claims' against SNHs for IT, so it means EC would have chances to win in trial. That would mean that (if found guilty in trial) SNHs would face some prison time PLUS claim disgorgement.

IMHO Wallrath sent all parties to mediation to try to settle this without going trial. Because of that, SNH's should value their position and (probably) concede part of their claims that would then start flowing to Equity (preferreds first).

All IMHO.