Sadly...
You really don't know if this is true..
with that one out of the way, the commons are left with nothing and the government will dilute them with warrants and spspa, and cannot touch preferreds unless it uses receivership, which it wont
Frankly, if the government can steal darn near 100% of the value of the company, they then can steal near 100% of your preferred. Since they have rights to vote for the preferred shares they could decide to take the following deal... They'll agree to redeem the preferreds for 1/1000's of their face value. And if they decide to offer that deal... they can on behalf of the preferred holders accept that deal and its done. They don't have to ask permission since by virtue of hera and their scheme they have ALL of the rights of the shareholders ...
Don't believe... it... lambert already said they can do whatever they want and if its in the best interest of the public they serve in their sole and absolute discretion... it'll be.
And not a thing that anyone can do about it... the judges have already said so...
...
Now... would that be right? Nope ... but it doesn't have to be... it just has to get done.
so...
Saying what won't happen... is an awful lot of crow to be eaten...
as it surely could....
We as in all shareholders common and pref... are hopeful the government eventually does the honorable thing... just don't count on it willingly happening...
That's the government ... they can do whatever they want and they have all the time in the world and judges in their pocket.
