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sidedraft

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sidedraft

Re: DJN post# 24

Tuesday, 06/23/2009 2:21:36 PM

Tuesday, June 23, 2009 2:21:36 PM

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The money to pay off shareholders trickles down from these 4 trust-preferreds(which are junior unsecured debt), to plain preferreds, and then to commons.

So what happens to commons is downstream from trust-preferreds. Conventional wisdom(at least this is what I believe) says that unless the class above you gets 100% face/liquidation, your class get nothing. Debt, of any kind gets paid first.

Step aside son, you're blockin' the MOMO! ... .. Disproving absence of evidence should be easy, show the evidence of.

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