Been on sidelines here watching, anyone with a strong logical view on either side. Myself I just don't trust there government.. Also anyone with the math skills to figure out possible pps six months from now saying that no bail in on anyone? Bail in, would be what pps. If a bail in is done any word with the participates Oder? Guessing bonds, Jr and senior dept holders, and then preceded shares, then commons? I have a sick feeling on how this will play out. Sell Finbing, place that as cash asset towards a new formed bank. Leave bondholders out. Buy preferred shares back , the ones they couldn't buy back last may 12.50 was offer then. So let's say the same or $10 flat . then wipe out all common shares. Then they will have the assest from sell of finbing. Use that to buy back preferred. Say its 12 mill shares at 12.50. Say 140 mill to buy those. Then re offer new preferred at IPO 25$ share of 25 mill shares They would gain another 140mill in free assets. 140 mill plus finbank they would be setting pretty. They could then have private investors confidence to particapte in new bonds sales. Then maybe IMF would want to step in if they could get Dept relief on those dead loans of housing and business loans from ECB. That scenario would make there bank do a 360. But of course creditors must agree on it and delay it with agreement till Jan 1st to wipe commons. The money from bailout would be delayed till Jan 1st but they would survive easily with finbank sale and then issuing new bond sales cause the PPP private sector and bond market would be secure again. I hope this doesn't happen. But that's my gut feeling.
