kthomp19,
You consistently mentioning you believe there is an 85% change for an SPS conversion to Common. & that you might raise that % based on Paulson's comments, other factors, etc.
Do you include the Liquidation Preference (LP) as well, in your 85%? Is there a chance the (original) SPS may be converted, but that the LP is written down/off? If so, under what scenarios/reasoning?
I think you are brilliant bringing up that Parrott/Zandi + other select maggots could launch a lawsuit ala what Ackman could do to 'gum up the works'/use the Courts as a major delay tactic. In fact, that is the only real reason I could see Parrot/Zani/Carney be so darn smug with their public comments of late. . . . most especially Carney. Please tell me Carney is nearly 100% wrong in what he states. Another way of asking is there anything Carney states that you see has any validation?
TIA
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