Replies to post #40129 on Washington Mutual Preferred fka WAMPQ

[Chiron]

I'm voting Yes, and giving releases. At this point its time to move forward. Denial of the POR is doom for us.

[clawmann]

I will vote to reject the plan (and grant the releases). If the pref class (class 19, of which wampq, wamkq and reits are members - TPS are reit holders) vote to reject, the judge might change the split to be more favorable to the prefs. If class 19 votes in favor of the plan, she won't consider changing the split. So IMO it might help and it could not hurt.

So, yes, I strongly believe TPS has it right and will do what they are recommending, but I had already decided to do that anyway, at least a week before TPS wrote that letter.

[WithCatz]

vodka -- fyi, I thought that the "Q&A" was better served by simply presenting the 'materials' that one can use to determine their own DD, etc. - {am sure you knew that, but just stating it for the other, infrequent readers, who have now congregated here to ask newbie questions}

vodka - WithCatz helpful post V1.1 does not directly share his own educated opinion in the TPS paragraph, so I'm curious what the other informed majority plan to do.

My disclaimer at the bottom said I tried to stay "agnostic" to the various securities.

I didn't want to write a pro-this security, or pro-that security propaganda piece :)

...Catz

P.S. Glad you found the Q&A helpful. Version 1.2 coming soon.

[radiumsoup]

I'm with clawmann on this question, but put a different way:

(IMO) This plan will be confirmed. I will vote no to the plan in the hopes that it will give the judge the impetus to change the split more toward "letter of the law" APR, something more approaching 99:1 instead of 70:30. I don't expect to actually hit 99:1, it may be something more like 75:25 - a small but not insignificant change, if any. I do not expect a "no" vote by Class 19 to derail the Plan at all; it will be approved over any remaining objections.

And since I fully expect the plan to be approved (with or without modification to the split) no matter how I vote, I will therefore grant releases to ensure I'm on the winning team's roster when they head back to the locker room.

So: no to plan, yes to releases for me.

/full disclosure: I'm 100% in Ps, I hold no Us any more, and haven't for well over a month.