.......if the NOLs are sold in the free marketplace (ahem!!!), they will bring about 18% off the face of up to 5-years' of combined losses.......my estimate is the NOLs might only be in the $400mm range +/-.........
.....all math, imo............but, say $500mm in losses = $90mm, less the BK priorities and FDIC of about $70mm.....................shareholders get $20mm, or a buck a share, roughly.......I don't believe the Preferreds get any more or less, with this type of payout.........................
....that's my take...................and the FDIC has to support this plan using its "REMUNERATION" philosophy of helping the parties negatively impacted by the bank FAILURE........................
......very, very strong possibility the FDIC lets FNBCQ drop down the baby jessica cistern.................and shareholders get wiped out........x.xx..................aimho........life is to short for this roadkill.............................................
