a write off... they are not going to give commons money from the NOL... they need that to write off their taxes. Monies coming in from the NOL... go right back into the company for the operations.
I just cannot see using NOLs to pay the commons... can you?
FDIC settlement? LOL only if they admit to and are charged with fraudulent conveyance. but that would be another case... not this one.
If WMI got WAMU back I could see the logic... but to compare apples and oranges and say that because they grow in the same field, the fruit is the same... hmmm
I don't think so.
WAMUQ chances are imo slim to none. Pref will rule and get paid no matter what; we are talking P and K not Trust pref as that has already been established and why their pricing is rather stable.
One caveat with K prefs... it cannot be converted to commons and must be paid. So why this is so low is a mystery to me. Pricing should be at minimum 6-7 right now... and move to at least 12 minimum for settlement plus interest.