Washington Mutual Preferred fka WAMPQ

[marayatano]

Agree, settlement this year 2011:



We all know that this is especially true for Willingham since he "only has commons" and that is the ONLY why commons will see anything.

Does Willingham take the settlement which will give commons something, since he only owns commons?

Does Willingham pursue litigation and send commons down the river, including his common holding (assuming GSA in effect)?

Bottom line:

Litigation = Absolute priority strictly enforced and commons zero'ed out (assuming GSA in effect).

Settlement = Commons gets something on the backs of preferreds.

Either way he decides, Willingham is covered because he will be on the Trustee Board and Litigation Trust, etc. drawing income in the millions.

He makes the most money on a Settlement scenario. So settlement it is.

We know that a "bird in the hand is better than 2 in the bush."

imo