Washington Mutual Preferred fka WAMPQ

[gold-nugget]

200.00 - thats it? Right now as it stands In my figures Im looking at 250-300 plus new shares in the diluted newco --

Absolute Priority will take place.

Now alot can change -- will JPM and FDIC relinquish the tax returns?? Will JP take over the TPG and make the Preferred pot smaller to get commons in the waterfall??? Alot going in with alot of what ifs...

These are all factors in play for commons to get in the Waterfall... This will make Preferreds whole, as required and commons will be in play with the newco...
IMO after doing the current numbers, over and over, Commons will get no cash from the so called "IT" settlement and as it stands right now they are out of luck to get anything..
Wamuuvoodoo thinks Absolute Priority will not be in play.. He will be wrong..

BUT BUT BUT - we have a weekend coming up... could this BE the weekend --- to end this mess...