MadBadger...thanks for your input on the subject of impairment, and that is the seminal question about this whole discussion of returning assets....from my point of view, WMI says that common and preferred shares were cancelled and extinguished, and all obligations regarding the prospectuses are null and void....to me, thats like the coroner pronouncing a person "dead" without any chances to regain life again....let me further attenuate my position with an example: if you give a starving man a loaf of bread, and at the same time say any future gifts of bread from me are "impaired".... what is the implication of your gift?...was it required for you to give it, or was it gratuitous?... should you not explain to the beggar your intention why you gave the bread, or leave him guessing as to why you ended your benevolence.?....My point:..... WMI was Required to give shares by action of the results of the mediation hearings, because the judge could have sent them to prison, so, they gave shares to classes 19,and 22, but at the same time the classes would be "impaired" from future recovery.... WMI's action to give shares was NOT A GIFT BECAUSE EQUITY WAS ENTITLED TO ANYTHING, but a requirement by the court to stay out of jail..... so they fulfilled the minimum requirement by force....if they intended to share more with the equity holders, they would have said more about an eventual infusion of Fair and Reasonable.... THEY DID NOT!!!...the only inference, IMO, is that they fulfilled a minimum requirement, but at the same time said NO MORE...this is my position.... thank you for your engagement on the subject.....Lodas
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