S&L giant Washington Mutual (WAMUQ.PK) finally gets the go-ahead to exit bankruptcy...

|By:, SA News Editor

S&L giant Washington Mutual (WAMUQ.PK) finally gets the go-ahead to exit bankruptcy proceedings after more than three years of brutal legal battles. The plan calls for ~$7B to be distributed to creditors and includes significant recoveries for shareholders, who often are left with nothing in bankruptcy cases. WaMu's assets were sold to JPMorgan Chase (JPM +1%) in 2008.