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Monday, October 05, 2020 7:23:21 PM
Whereas if your preferred doesn't converted. Uh oh....
Uh oh as in, oh no I only get Par? LOL. Yeah, that's a terrible outcome for Jr. Preferreds.
I'd be much more worried about the Treasury Converting their Sr. Preferreds than the Jr. Preferreds Converting.
One has the potential to knock Commons down to sub-$0.50 while the other one saves Commons from $33B in additional dilution
Bove:
Congressional Budget Office:
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