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Sunday, June 09, 2019 10:45:10 AM
So what is “fair?”
Calabria also thinks that the GSEs should have been liquidated, resulting in total loss for common shareholders, so he may think $0.01 is “fair.”
Ackman bought for like $2... Why would $20 be “fair” to him but not $3?
Everyone on this board took out a HELOC and Sofi personal loan to load up at $1 earlier this year. $2 is also fair, no?
Icahn bought for $4 (what an idiot!); what’s fair for him?
What about someone who paid $80 pre-conservatorship?
And why are the answers different in each case?
This concept about treating legacy shareholders fairly is a complete joke.
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