Replies to post #26248 on Washington Mutual Preferred fka WAMPQ

[newbie65]

ok thanks. So basically means the "current" common would be toasted and the preferred will be traded like common for whatever the value its based on or the money it might receive. I thought u meant after the preferred converted into common and be toasted. I mean anything could happen and some say they cant be converted, but anyway, let's just see how it plays out.