PK,
You are coming at it from a different angle.
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"Why has the stock continued to trade?" I've been asking this question for years. How can the gov that is, more often than not, conservative in its restriction of what it deems a threat to public safety, turn a blind eye to what amounts to be the circulation of bogus shares that hold no intrinsic value since the companies have essentially 0 assets/value. It's like sanctioning the circulation of counterfeit bills or allowing open access to a condemned bridge.
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And i understand where you are coming from.
my point was as to Shareholder rights. Remember some judge wrote that HERA transferred ALL rights to the government. Well, one right is the right to receive value for its commons shares, themselves, yet, everytime i sell a share i receive money. I have the right to buy and sell those very shares that some judges says ALL rights were transferred. Yet, not all rights were transferred, so, if all rights weren't transferred to the government, by virture of the fact i have the right to buy/sell shares and receive economic benefit of ownership (a right) what other rights of the ALL rights were transferred weren't transferred.
So, for Lambert ALL; really doensn't mean all, what else is there. What are the limitations, which haven't been really determined.
Because if ALL really meant all then the government owes me money for taking my money...
like you said, why did the allow a market to be made in a valueless stock.
The problem they've created quite a mess, that the only way to solve it is
1. Kill it.
or
2. Settle it.
Killing it could be very optically challenging as its a taking... and could cost them $300Billion in later settlements 5-10 years from now.
Settling it could cost them $50Billion and ends the debate. And they get billions back in taxes. Under a simple regulate, recap, and release program.
To me, settling it is by far the best solution.
