Wow! This is your best post and best explanation ever!
You should continue this and not start to talk about S4V and PIERS getting impaired in the next few posts.
Because if APR has to be followed above class 19 then there is no such thing as PIERS getting impaired. and no such thing as escrow getting paid before class 18 is paid.
And if all stocks were canceled then there is no such things as old preferred getting new COOP preferred and old commons getting cash or common shares.
Beside everything has to be disclosed in 2012 if WAMU assets will go to WMIH/COOP.
So LG, All the chatter regarding off sheet assests have zero value to UQ's?. I have zero idea I look for real input. As usual 10+ years and no accounting or PS degree over my head. Thanks Windfall
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