Replies to post #18499 on Washington Mutual Preferred fka WAMPQ

[Chiron]

I agree with you about the EC lawyer. Veneable really screwed this one up. How could they have been blindsided by this? It's either gross incompetence or they are in bed with JPM as well.

Unfortunately no one can be trusted anymore. Based on the waterfall calculations, PQs will be in the money. Commons, man I really don't know anymore.

I will give Veneable a chance to redeem themselves with their filings.

[Holyschnikes]

I agree with what your saying, however the Judge allowed the ec to be a third party, albeit an uninformed third party..lol. The hope for preferred holders is that the Judge looks after the equity interest. I understand she's not obligated to do this, but it's difficult for me to believe the deal won't be sweetened enough to cover a potion of preferred. Commons??? Toast, always was...a great trading vehicle to flip for awhile though....!

[Vulcanized Crawler]

true, but, the ec must approve. so must the bondholders and the judge. the bondholders already said NO im told. this is a great powerful way to get a delay. and rosen has job security with weil, working for jpm. at least some are happy. oh yea, me too, i bot more prefereds near the low.

damn i love the pinks