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wamuer

12/30/09 2:34 PM

#131381 RE: Yohan #131377

preferreds are always safer than commons and wahuq is even higher on the ladder but with this case and the EC forming,, sj ruling nol's and the fact wamu was solvent(as per JPM) commons are looking real good

IMO
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ILVMNY

12/30/09 2:51 PM

#131383 RE: Yohan #131377

Yohan, I believe it's best to be in both, but in trying to do a little flipping, I got stuck totally in the commons now. I'm ahead, per se, but don't have any preferreds now.

The common feeling is that preferreds get paid before commons with any excess funds after all is resolved. But there seems to be instances where equity can be distributed evenly between all classes. I just don't know what's going to happen.