Owning Preferred Stocks Was Great Cash Flow.
WMI Series R Preferred ($1,000 face) paid about $300 a year. Two interest payments and one Performance Payment.
Therefore In just over three years your investment is covered.
The Preferred shares and many Bonds being backed up by mortgage, car, HELC, … monthly payments for the loan.
Good for Lehman’s for investing in others securities for cash flow.
One of my favorites;
According to the FDIC “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”
Two Trillion in insured by CDS Derivative Contracts.
$1.5 Trillion to reimburse for losses.
WMI/WMB had $2 Trillion to reinvest in others securities or to hold in cash.
Same thing with Lehman and F&F.
Please keep posting Real. You are one of the few people that understands the Derivative Market Meltdown of 2008.
TBTF FAILED.
Ron
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