Replies to post #39976 on Washington Mutual Preferred fka WAMPQ

[eet2]

Claw
For each P will convert to 18.6 newco. what will be converion on U"s? tia

[vics picks]

Quote ( As an example there is the "Logic of of sunk costs". http://en.wikipedia.org/wiki/Sunk_costs )

Thanks for the link. I think the word "sunk " explains the dire straits the commons are in compared to the P's.

[vodkadejour]

"they engage in all sorts of illogical and emotional thinking."...
Agreed. And such behavior negatively affects nearly every sort of worldly events and happenings. You can bet on average those with lower IQ's and more extreme religious views are the most likely to be susceptible to this sort of thinking. And the irony is that the majority of the fiercly loyal wamuq holders on these boards refusing to exchange ownership for P's were not even pre-holders, i.e. they were not even the ones really screwed in the first place, yet they've irrationally convinced themselves that a lack of payout of their recently purchased U's constitutes an injustice to them personally, which of course is ludicrous.

[edev]

From my reading of the latest documents, 6th Jan is being used as the cut-off date for the company to use when dealing with banks/brokers, so if you buy after that date your bank/broker will not get the documentation in relation to the vote. Perhaps you can work around this, if you use the same broker that you've always used, I dunno, but I would be wary of buying until this is clarified. Please correct me if I am wrong (wouldn't be the first time).