Friday, September 01, 2023 11:49:31 AM
Who on earth would contribute capital to FnF just to watch it disappear into Treasury's bank account rather than improve FnF's capital position?
If new investors were willing to contribute that much capital to kill off the seniors and finally let FnF out of conservatorship, they would demand so much equity in return that it would still crush the existing common to almost nothing anyway. See part A in your quote that requires FnF to issue additional shares or obligations in an equivalent amount.
Your cure is just as bad as the disease!
FEATURED ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM