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Re: jhdf51 post# 345156

Thursday, 11/17/2011 6:02:28 PM

Thursday, November 17, 2011 6:02:28 PM

Post# of 728625
First of all this NEWCO is just B.S. There is NO REASON for a new company. Way to many people got hooked on that from Rosie. A reorganized WaMu could get revalued, exit chapter 11 and continue on with some of the reorganization being in reaging the preferred debt, cancelling some other and/or converting some debt into common. Do not listen to people who say this ABSOLUTE PRIORITY rule has to be adhered to, it does not when the principal holders agree to a plan. That is what bankrutpcy is for, the major players make a deal and that will be that whether we like it or not. Like this court ACTUALLY follows any principal, rules or other...give me a break!!!
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