Conversion and sale of warrants (to himself?) was peddled by John Paulson through his mouthpiece, Moelis. Didn't happen when his buddy and business associate was President. Won't happen now.
Corporations that survived and thrived while paying 10% dividends on $187 billion won't have a cash flow problem in paying dividends of a couple billion annually ONCE CAPITALIZED. Also, it's quite possible the corporations will sell lower coupon jps to replace the higher paying ones. Absolutely no need for conversion.
at the moment --- changing by the week - JPS appears more attractive - especially for those not yet diversified (although this is not true diversification)
when JPS gets to 4 it changes again (think 25/4 v 25/1.6 - massive difference in potential gain - huge )
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