Replies to post #32543 on Washington Mutual Preferred fka WAMPQ

[Chiron]

**Here's the thing... if there is going to be a significant distribution for opting in for releases you send in the w-9 and they take the 28%.

Now lets say you've been holding shares LT, and your tax rate is 15%. Why wouldn't you just sell them on the news? If by some miracle the hedgies said we're giving up xx amount to make preferreds worth 50% of FV... they would run to close to that level. Sell and be done with it and pay 15%