Replies to post #1270 on Washington Mutual Preferred fka WAMPQ

[hestheman]

I like Billiams choices better...LOL

[dmceng]

KJB

Time will tell. We are betting on Judge and the BK Court.

Take Care
David

[Billiam_2]

JPM has already said the $4.4B belongs to WMI. FDIC wants it because they think it should be part of bank assets. WMI is a holding company. That's exactly what a holding company does. It holds assets.The $4.4B obviously never belonged to the bank. And the bank is what got taken over, not the holding company. There is about as much chance of the judge giving the money to JPM or FDIC as her giving it to you or me. They can piss moan and compain but the law is the law. And with approimately $20B after debt is paid and no buyout, they will reinvent themselves and come out of BK.