Replies to post #1233 on The Colonial BancGroup, Inc (fka CBCGQ)

[Yoda0629]

Yes this is all up to the courts... sort of like LEHMQ and WAMUQ type play I believe

[everett7]

Amazing that nobody has brought this up but the Colonial Bank preferred shares (CBCDQ) have made a full recovery to pre-bankruptcy levels, they have gone from near $1 to over $7 over the last few months. Is there any reason the common should not be following preferred here? I realize they are first in line for a recovery, but common knowledge says that the common equity should be following the preferred in this situation, same was WAMU and Smurfit-Stone.