Don't believe the delusion. Only a court victory will provide release from hostile takeover. 'Conservatorship' in perpetuity , concrete life preserver is the story here with current communist regime in control. Don't kid yourself. Wake up and smell the Vermox.
Bradford, you still don't understand that FnF are increasing the SPS for free in the same amount of Retained Earnings, which makes the Capital built during the quarter be $0. FnF are not recording these new SPS increased for free on the balance sheet, in order to not record the offset when they are debited from the Retained Earnings account. In this world there is nothing "for free". Someone has to pay for it. That's why the SPS for free are debited from an account.
Agreed. But, they need to write down the Liquidity Preference and give up the free warrants. In AIG case, they sold the warrants back to AIG in $25M on 11-Feb-2013. Just not sure whether $25M is for the whole batch. Or, did UST exercise some warrants before that.
and you really think in the years it will take them to get there that the goal posts won't be moved again or some other narrative created to keep them under wraps?