No. It's going to take about $4.8B ($1.4 to bring negative WAMUQ Equity to zero, i.e., to pay off all the Creditors plus $3.4B to pay off Preferreds (not including dividends).
I don’t know the approximate book value of WaMu at present. (If my memory serves me correctly,) I have seen numbers of from $30B to $50B posted on this board. However, the “official” “book value” for WAMUQ Common Shareholders is negative or else we would not be in bankruptcy because Liabilities exceeds Assets by approx. (-) $1.4B.
As you know, in investing, risk is commensurate with (possible) reward. I own WAMUQ Common Shares because they have the greatest [risk as well as the greatest] (possible) reward. If you are more risk adverse, then you would own the preferreds. Or if you want to “hedge” your positions, you could own both the common and the preferreds as some posters on this board have done.
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