Replies to post #18503 on Washington Mutual Preferred fka WAMPQ

[YourPlanet]

Rule 9019
Note it was just a proposal

[Vulcanized Crawler]

gee if jpm bot off everyone, including our lawyer of the ec, we should just jump off a bridge or buy more jpm? ROFLOL

[BullNBear52]

The judge allowed the EC in only as a 3rd party to the suit. Common shareholders in reality are the low man on the totem pole in a BK proceeding.

I went round and round with some Wamu shareholders on the JPM board here. I pointed out that at the end of the day they would not see a dime out of the suit.

I also pointed out that I don't own either stock. So the basher stuff is rather funny.

[JV44]

YOURE RIGHT WITH THAT CURVE BALL....FOOLED EVERYONE IN THE STRIKE ZONE!!!

[mordicai]

The turnover proceeding has not been settled nor has it been dismissed. The proceeding cannot be voluntarily dismissed by the holding company without a hearing unless all parties agree. The bondholders were allowed to intervene and their lawyer has now said that the proposal is unacceptable. So I would expect that the bondholders will put the matter on the docket again for judgment to be rendered since a global settlement was not reached. And once the ec is made a party by intervention motion being granted, the ec will do the same. Thus, the pressure can and will be put on JPM and the fdic once again to reach a better settlement.