SPS converted to commons = $192 billion + $27 billion + $124 billion = $343 billion in common equity. Out of this amount, $151 would belong to the legacy common and $192 billion to the Treasury.
$151 billion/1.8 billion shares = $84 in equity per share. Now add the EPS multiple.
Oh please. You people just LOVE to make this soooo complicated. It’s ridiculous. We’ll leave conservatorship the same way we went in. A stroke of a pen. Good lord.
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