what does equitization mean? meaning jr pfd shareholders are slurping to get 10 common shares for 1 pfd? you think govt doesn't know that it is equivalent to giving 34 billion handout to jr pref holders ? also seniors are paid off already. if we still think we owe another 180 billion to seniors, we all get peanuts, forget about it and let this keep going to 2028 and beyond and see where the chips fall. i don't know who will do the right thing but someone some day will, wait, wait and buy jr pfds when they reach $0.01, which is possible as downturn is around the corner in a year. all i can say jr pref are not getting 34 billion , no matter how creatively we cut the cake. commons should be valued around $1500 with the opportunity cost at a minimu, let's see how we arrive to it. only courts would do at this point after 14 years as both parties have failed.
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