~ Silly, Just A Thought That I've Always Had' ~
... If' ? ... Washington Mutual Inc., was ever going to find the need to file for bankruptcy ?, ... the Company was to large to ever file for a Chapter 7' Liquidation', ... the Company would always need to file a Chapter 11 "Reorganization", ... Especially with "its own" WMI Capital Trust as a separated entity and functioning' ...
I don't believe that in April of 2001' when all of this was written and approved, that WMI ever thought that it would find the need to file for bankruptcy', ... But' ?, in 2006 as the world economic condition was struggling, ... I believe that the Parent Co (WMI) protected itself with the issuing of the PIERS' to be determined to be WMI Senior Debt' ... putting a stop on things, ... it kept 3% for its reorganized self', ... and always intended on protecting its "shareholders", ... point # 3' of its own Capital Trusts Liquidation Preference'
... anyway, just some thoughts' ... as I run out of posts' ...
P.S. Guys, I am not able to send PM's, however I do receive them and read them all' ... thank you all for your kind words' ...
Again, Once WMI's Senior Debt (the remains in Tranche 4) gets paid, we will move forward' ...
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