Replies to post #18518 on Washington Mutual Preferred fka WAMPQ

[Lawrence 147]

Except for this The FDIC can not take and give away what does not belong to them. the holding company now belongs to equity, neither can the creditors. They can not give away what rightfully belongs to someone else to collect their debt. They screwed up by not taking a haircut themselves and getting greedy, trying to get some of their preferred shares paid. In doing so they gave up their status.
Actually it could have turned out better for us. But they did not hurt us as much as they could have or needed to, to have prevailed.
By giving equity anything, equity now is back in ownership of the company and will need to be included in any agreement..

[sf]

bull, you need to pay attention to our totem pole. shareholders-owner of company, wmi-owner of property stolen, jpm- thief and facilitator of takedown with implementation of moles, fdic-sidekicks that helped jpm so they could save their own butts from having to cover deposits, EC- economic justice for shareholders stolen from. real summary judgement- priceless. jmo. also make sure you tell JD to keep his head down in the WH kitchen. the real fallout hasnt happened yet. he may need a pardon. just sayin'.

[Vulcanized Crawler]

ec gas to approve. bondholders have to approve. judge has to approve. not to mention fdic, jpm. this is the way it is. i didnt make the rules. if it were up to jpm fdic and wmi the shareholders would have been beheaded , but, now they can say what they want, but, they have to get permission to finalize. the media didnt say that, lol....now did they? after this bs, i want a court battle, but, we really need to lawyer up the ec it seems.

[mordicai]

That is unadulterated bs. The parent is a debtor in possession. It cannot make decisions on its own without approvals from the trustee, and the court who in turn will at least hear out the ec.