blarsh, the P's have a better chance of getting something than the commons, of course. You have all these creditors that come before the commons, and the P's. You have pension funds due to thousands of employees, on top of all the debt, and that comes before the shareholders. FDIC will be in line to get some recovery back. Even with the cash and the IRS refund, there just isn't enough money to go around.
The stock is still going to flip for a while because of volatility. Even when the worst of news comes, it will still have at least one more dead cat bounce that will present a great trading opportunity, as they almost all do. That's normally because novice investors just can't believe the writing on the wall, even when it's clearly in black and white. I'll be there for the last big flip when folks are still pumpin it at that point. If you have some cash to play with then, you might want to do that also.
Best of luck!
JJ
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