Replies to post #32444 on Washington Mutual Preferred fka WAMPQ

[Kristallweizen]

same here

[clawmann]

Personally, I believe it is very important to vote to reject (how you decide to vote or not vote on the releases is another matter).

Remember that, according to the ballot, the vote of the P's will be determined only by looking at those who actually voted. I saw nothing about a quorum.

So if only 10% of the P's vote, and 60% of the 10% (or 6% of the total P's outstanding) vote to accept, then the P's as a class will be determined to have accepted the plan despite the fact that 94% of the total will have not voted or voted to reject. By not voting to reject, you can unwittingly hand the control of the P vote over to a minority of holders who may be voting to accept the plan because it furthers some other interest they may have.

If the P's as a class are determined to have voted to accept, you and a number of other non-voters will only have yourselves to blame.

[steved_45]

I don't trust anything either, which is why I pared down my holdings to just 10 shares about 2-3 months ago. I'll buy back in when I feel more comfortable. In the meantime, it's hilarious to read the daily pumps over on the U board. I especially get a kick out of the pumps that are the most meticulously written; where the posters spent a very long time concocting a giant conspiracy using inferences from the hundreds of different events that have occurred since the GSA 'settlement' back in March 2010