That's the Moelis Plan, aka the Everyone Gets Something Plan.
It's much better than the other plans which only benefit TBTF Bank and the Mortgage Bankers Association interests.
Preferreds have suffered long enough without dividends. Commons are barely holding above $1.
Moelis fixes just about everything, and everyone comes out about 4-5x higher than current prices. That sure sounds like a Win-Win for all shareholders.
Enough with the Greedy Common Hedge Fund BS. No one is getting more than a 10x from these prices, NO ONE! Some of us will be lucky to get 3x.