Washington Mutual Preferred fka WAMPQ

[gophilipgo]

Okay, after reading the equity committee's support letter, it appears to me that some terms of the loan in fact are "death spiral" financing. 1% of the interest on the $125 million loan is payment in kind. This is a very destructive type of loan, and could mean very heavy dilution.

http://www.finweb.com/loans/understanding-payment-in-kind-loans.html

We need to get these terms changed.