Replies to post #29518 on Washington Mutual Preferred fka WAMPQ

[eet2]

I have always felt jpm would paid back div's on the P's and fold it into jpm p's, as that would only involve paper, and very little cash for them. Your thoughts?

[sunshinevibrations]

What that DOES do, however, is remove the possibility of TPS being "ahead" of K/P's...

...and it reduces WMI's liabilities by the amount of TPS' claim, leaving more for equity.

[HROLLER]

I agree.....If JPM assumes the TPS, there is $4 billion less of a obligation to the estate in which there will be more money for the P's and K's during distribution.