Between the ABS-Cert theory and the S4V theory, I think that S4V wins as it is more resilient and sticky and widely accepted by the IHUB community and possibly the Smart board as well.
Ron, yes you are right, I wrote the email to FDIC in naive terms to see what would be their response. But I believe there response is correct. They seized the bank only - so assumption is if Bank assets - liability = remaining to equity, and they are saying that might be 0. They are not discussing any other assets of Holding Company in their response. Right?
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