Replies to post #1835 on Bankruptcy Q Players (BQP)

[the cork]

Great points EI. I would rather invest in a bank out of bankruptcy than one still in trying to get money from the FDIC too.

They should be much better positioned after emergence than they were before, no doubt about that.

If I played the financial sector, that's one I'd do too.

[Superfly15]

If you really want to play it risky UWBK is a unique one...they were trying to secure a financing package for quite some time and they got seized/sold. However, the management filed a federal lawsuit against the seizure because they claim (they were) forced to take a big write down at the end of last year by the Feds which caused them to be at risk and they want their bank back.

Plus they have outstanding lawsuits against Countrywide for over 100 million that are pretty much the same thing as what MBI, ABK etc etc are after.


Just the novelty of the first bank to file a suit against the Feds for illegal seizure is interesting...they might have a case but idk if it could even be reversed now because its been sold already.

http://www.courthousenews.com/2011/02/23/BankvFDIC.pdf