Wednesday, July 06, 2022 1:10:52 PM
No. What you said was "Lp to be zeroed and not converted. Return of excess money to be used toward recap of companies. Let's make this official because it is the truth." Your "truth" was not in reference to whether Treasury has been repaid. Instead it referred to things that have not happened and may never happen. That isn't "truth".
It's not just semantics. The difference between debt and equity is enormous, especially when it comes to repayment. When the principal amount of a debt is paid at maturity, the debt is extinguished. Equity, on the other hand, never diminishes in value (in terms of dividend and liquidation preference) no matter how much money the holder receives and has no maturity date.
I have never quite understood the argument that because Treasury has received more than it paid out, therefore they should give up the seniors for no return consideration. Why would they do so?
Now this is a good example of semantics. There is no difference between what happened and what the Supreme Court thinks happened. They had all the facts they needed regarding the NWS and still ruled that it was legal and authorized.
No, this is not at all the same thing. The Supreme Court directly ruled that the NWS is legal and authorized. Them reversing their own ruling is far different than issuing a ruling on an issue they had never considered before.
Whether or not my opinion comes true (that the Supreme Court won't reverse their ruling that the NWS was legal and authorized) has nothing to do with the truth coming out, whatever that even means.
And yet those are greatly outnumbered by pie-in-the-sky common share price estimates that give no consideration for any downside scenario. Something tells me that skimming through those is not nearly so bothersome.
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