Do you know how much the bonds are trading? The ones right above equity? If they're not in the same range as pennies are..then something's cooking. But even in that case, they may still want to take everything and not want equity to get anything. Did you follow WMIH bankrupty? There were so much hopes during 2010 and 2011. Lot of hopes. Those hopes may turn out to be true as equity got something and anniversary is coming. But what I'm saying is be cautious. Its not as you see from outside. Think from different perspective. Think from the view of the ones above you. What would want them to give you something as a current shareholder? Can't they not twist and tweak and prolong and drain the confidence that general shareholders have. Main question is, is it time yet to be in, if there is some chance? If you are not in yet, I'd suggest wait for that period. If you're in now, you'll probably make a lot more in the future or lose with the confidence that you have on your facts. I don't know. This side of investing is crazy and scary but certainly rewarding, if it comes out to be as expected. May be read some chapter 11 articles, just to refresh yourself. Lots of articles, just have to search the right way. I'm also learning and its the learning that I have achieved that I can question this much.
