Kuby ....ethics has nothing to do with protecting common shareholders in any Chaptered Bankruptcy ....EVER !!
Specifically to WAMU it will likely take a few years to present an acceptable re-organization plan to the BK Judge , which means the common shares will trade until that time .
It is my faint hope that the FDIC seizure is challenged and reversed because Washington Mutual was 100 % viable in ALL aspects . The run on the bank could have easily been resolved with a cash infusion from Congress which the FDIC knew was imminent . The FDIC seizure was pre-mature , arbitrary , colluded with JPM , and thereby prejudicial and unwarranted .
I want Congress to get involved NOW .
Renee
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