Monday, September 10, 2018 12:43:05 PM
There has been no court decision to back up this claim, which is false. The primary motive for the government releasing F&F, is to monetize the warrants. They will spin it as a win for the taxpayer as the warrants are likely worth close to 100b
"Jr Preferred shares will be cancelled, now is the time to clean up the debt".
While your first statement was flat out wrong, "Warrants are illegal", your second statement goes against basic finance. If common shares are going to be worth anything, jr pfd shares have to be worth something since they are higher in the capital structure. If this was even remotely possible, every company would just cancel pfd shares to clean up their balance sheet and get rid of debt.
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