National Bank of Greece ADR (fka NBGGY)

[fourdueces]

Why wouldn't NBG just wipe out all shareholders and preferred and bonds? They can't bail in anyone till Jan 1st, but the creditors can still delay a finalized recap from taking action if its applied for until Jan 1st. If they would sell FINSBAG for even half of the $$ reported offered. Wipe out everyone, and use that equity to start from scratch. Anyone with a heavily ventured interest could easily be taken care of out of the new Bank shares formed after 1st. What is the other upside of still trying to make it work? Your gona have a company with share structure thru the roof, in a economy far from even a ray of light of any good days. So to me, you our only gonna have this shot one more time. Either fight for survival for 5 to 10years or start over on small loses that they can over compensate each other to easily make all loses back in a year. Hate to say it but I'm starting to believe that's the endgame being played here. Can't see why not do it. Kills me to come to this .