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Monday, February 23, 2015 11:25:20 PM
They would also need to recapitalize. Maybe $200 billion if you assume a 4% equity ratio. Say they sell shares at $18 per share. That's still more than 10 billion shares. 19 b total not 9 b.
Selling at $9 instead of $18 would mean 20 billion more shares.
So, I'd recommending recalculating your numbers with realistic capitalization assumptions.
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