Replies to post #2798 on Washington Mutual Preferred fka WAMPQ

[rockie101]

Wamook....question please...say by the time the 4.4 billion is officially belongs to us and JPM in no way has the money to be with drawn from the bank...what happens ?

[climberprof]

Does WMI have to pay WAMPQ first to be able to get out off BK?

IF they do NOT, then when WMI comes out of BK and all shares starts trading regularly again, what do you expect that WAMPQ's price will be?

IF WMI can still pay those high dividends ($80 pps ?) then that is good, but if they cannot then WAMPQ will be worthless!

Now, can anyone possibly expect that WMI will be abl to pay those high dividens right after BK? I really do not think so!

The only way WAMPQ can go to those high prices is if WMI goes to liquadation which I do NOT think it is possible, or if WMI comes out BK AND pays those high dividens again, which I do NOT think it is possible either.

WAMPQ might worth a shot around $1 or $2 pps but at $5, $6 pps there are many more companies out there ON SALE and NOT in BK, it might be better to bet on them.

Just MHO.

Best