If you want to get all technical, we can do that too. This is ihub, we should be relaxed and having a coca cola while we talk...okay okay....let mez break it down for you to be exact.
1. True, equity is not debt. The point is in goober terms....if you want the jps or commons to get paid, the sps has to be paid in full in accordance to the liquidation value.
2. If it were not for the NWS, fnf would have been forced to do something with all the profits. At that point with only 10% divy and a massive profit afterwards, and accumulation since like 2012, the topic of paying off the gov would come up. And we would likely have paid off the sps. Of course, that did not happen. But the argument is there and made.
3. You know who talks about capital requirements? Goobers...thats who. Lets get out of c ship before we waste time talking about it. Baby steps. Focus on winning the lawsuits and then next steps is capital requirements. Cap req. Is easy once we exit c ship or win lamberth or Rop or both.
4. Its true that we cannot redeem the sps or convert it. Without the nws fnf will be healthier than an olympic athlete and would have exited the cship based on the sheer amount of cash they would have retained. And again...this did not happen...
The point is you are missing the point and the spirit of the lawsuits. They are 1. Trying to get non sps equity paid and 2. Try to bring some justice against the nws.
No one is talking capital requirememts....its mumbo jumbo right now. Baby steps. Dont get ahead of the game.
Those are technicalities we differ in. The facts are as of right now, all we paid in is dividends...we still have to pay off the sps first (OWE-goober) if we want to get paid. Or do something about it. Lets go ROP and Lamberth....go figure
