Which viable plan was that again? The one you cooked up in your head or is there one in the documents you've been posting from all night that we've somehow missed?
Last I checked there are tens of billions in lawsuits floating around including the copyright infringement one that and could only benefit WMI.
It's also pretty cool that you've decided they'll lose all the NOLs generated by WMB.
Gotta love the professionals here that should just be professional advisers on all things. They show up to play the expert role on all things as if there's no reason for an expert evaluation right on down to letting us know what "the plan" is and how it will play out.
"The viable plan will benefit creditors and not shareholders, and that is the beauty of bankruptcy from a company's perspective."
Preferred Share ~ $3.5B (Not due anytime soon so pay divis and 3.5B would only cost the estate about $300M/yr). Therefore, commons would immediately be in the money. Only at liquidation is all the money due.
So commons are $4.5B short of being in the money.
We are in agreement that we would get some refund.
Tax refund of ~$7B and we split it 50:50 worst case = $3.5B
Now all we need is the Judges to get this moving.
1. Re-evaluate the sale price.
2. Give back FSB and Providian.
3. Goldman Sachs purchase of the wind power business.
4. 5 Million Shares of Series A Visa shares.
5. Subsidiaries
6. Return of Trust Assets.
I can go on.
This is easy unless the Judges screw up big time. So when you say commons would not see anything I want you to keep this post and repeat after me Money Money Money.
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