...OCC won't risk court decision...
...we believe the OCC will initially offer $40-to-$50-million in restricted capital with a charter for a new bank. The settlement limits or conditions will be 15% tier one for 5 years, no issuance of cumulative preferred stock, FDIC oversight, etc...........and subject to BK court approvals given that the holding company is in BK......the OCC will pay legal fees although this issue could be built into a settlement...........
...Guy however, says f/you, we want $500-million in cash, a charter and no special restrictions on anything......
...the OCC comes back with $75-million, a charter and no restrictions, except for the standard ongoing bank FDIC guidelines.....................
...there it is, IMO...........unfortunately, the share price will only bounce up to about $1.50 +/- in the short run.......
...BTW, any indictment on insider trading, allegations of bribery or kickbacks or fraud........................monster settlement..................cool bil, IMO..................
...time frame, IMO..........any minute.........seriously.......