What does the WaMu win do for the common stock?
I had a significant amount of money in WaMu stock before its failure and I sold it 30 cent on the dollar the day after WaMu was declared a fail by FDIC. Does the ruling against JPM does anything for the common stock? I would guess that lots of bonds holders and other creditors are waiting to get their money but just want to make sure.
Common stock holders are ALWAYS last to be paid in a bankruptcy. The debt on WAMU exceeds capital. Bondholders may get something and preferred stock holders MIGHT at best get 10 cents. I think this is optimistic. There is nothing in the bankruptcy plan that is showing to give any benefit to common stock holders.
In Nov 2007 WAMU was ranked in my top 5 list as “Companies currently in financial trouble.”
Central Line LU Rare footage 1962 Aluminium Stock Nov. 2009