while it isn't justice
since it ignores and keeps fhfa's early accounting fraud
and it ignores and keeps fhfa's liar spspa
and preferreds take a haircut, and so do commons
what it does do, however, is keep the companies alive and leverages their existing capital structure to recapitalize the two.
it basically forces them to recapitalize as quickly as possible to the maximum amount possible in that time frame, so there really isn't much for people who have a stake today to go around.
i own preferred and dont think i get to par.
it is what is going to happen, i don't think you are aware of the institutional backing, the way you talk, you still seem to not be aware of it..
what this does do is, yet again, the governnment gets to frontrun the law... which plaintiffs have simply not been able to litigate favorably
and hey, that's the way the cookie crumbles
but i'm not going to lie to you and say it isn't happening when it is.
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