Replies to post #2654 on Washington Mutual Inc pfd K (fka WAMKQ)

[John Gyver]

I know. BUT that was one single note... nothing more. People have clung to that tid-bit as if it were some sort of major release. It was a side note as I recall.

I am for the Q3 exit of BK but we have heard nothing on that since the release of than note. It was a mere wish on the part of the attorneys that has never been brought up again. I know Diamond pumps that tid-bit daily but look at the facts... there are no other supporting documents that suggest that a Q3 exit from BK is on the way.

I hope that a buy out is closer than we think.... I do think that this will be a LONG drawn out process. I'd settle for a $1 a share NOW than wait another year hoping that everything turns out fine.... of course I'd want my preferreds paid in full along with the $1 a share! LOL

John Gyver

[BoxerJoe]

I read in another forum (not Yahoo) that they cannot file a reorganization plan while this litigation is still pending because assets are still unknown until the litigation is complete.

Here is a post about this topic from that same forum. It mentions this thing coming to an end by early July, which sort of fits with what G-N said on the P board about what he heard for an ending date to all this.

"The consensus is they will never exit BK. When they get their settlement, they will be sitting on a huge pile of cash and get bought outright by the likes of Golden Sachs.

This is projected to wind down (by several of the lawyers on the board) by early July. I actually hope that is wrong. I prefer the original assessment of Thanksgiving. It will give me more time to accumulate more LOL

The lawsuit sure appears to be a shoe in. Have you folks seen the latest bill from Alvarez and Marshall before it was pulled and redacted?
A ton of Global settlement talks going on.

This will never make it to discovery. JPMC cannot allow that. Dimon and his cronies will not let what they have done see the light of day, it means jail time for them. They will buy this off."