Washington Mutual Preferred fka WAMPQ

[gophilipgo]

Catz, first of all, thank you for sharing your thoughts. Could you further expand on your sixth point:

6) There are three values to NewCo. One is the value of WMMRC is “run-off” mode. The other is the value of non-debtor subs. And the third is the ‘unknown’ future value of the Litigation Trust. {A forth value, a negative one on the balance sheets, is the loans from the SNHs to litigate and/or merge -- that is a negative value as draws against those loans occur - and a liability that is of a big concern to me, and to others I've spoken with. Do not underestimate this issue.}

From my quick reading of the POR, the loan is non-dilutive, so in that sense, it's a plus. The interest rates certainly seem to be high, so that poses a potentially big problem. What other potential problems do you and others foresee? If you don't feel comfortable sharing that with the board, no worries. (Or you could PM me if you're cool with that.)