"It's $75B in common equity. Check page 24 of the updated plan. Then $25B in new preferred stock and $67B in retained earnings, for a total capital build of $167B.
"
kthomp19,
LOL, This is $100B (75+25) for FnF capitaization same as what was mentioned in my earlier post.
(I do not like the word recapitalization because FnF had more than enough capital but crooks used slogans and multiple stickups (SPS and NWS) to rob FnF of all their capital).
What about $125B for UST warrants? Warrants were once again proceeds from stickup conservatorship and SPSPA. Will not these warrants affect raising $100B for FnF capitalization?
Both $100B and $125B equity SPO will be competing for the same fresh capital from the same private market during the same time for the same companies FnF. Any failure in any one of these equity SPO will result in failure of the Moelis plan. With this scenario - FnF can never exit Conservatorship.
As mentioned by YanksGhost there exists no investment banker who can handle such ill-conceived SPO and have the financial capacity to underwrite the SPO.
Such failures will make FnF stocks worthless and investors will not only lose trust in FnF but also trust in Administration itself. Some more analysis is required to understand the effects on housing economy and political fallout in next elections.
So we need better plans like Shareholder's Post Card plans that try to reverse all lawless conservatorship decisions and unwind all stickup concrete life savers (conservatorship, NWS, SPS, Warrants) safely without destabilizing economy and markets.
The massive capitalization and healing should happen over a period of time without any rush.
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