chapter 11 isn't an orderly wind down; it is just a restructuring; and the business continues; usually chapter 11's are prepackaged;
in this case; the government via conservatorship took $190B of face value spspa and 79% of warrants in common share at present;
that is a lot of damage for any dilutable securities for enterprises making $28B and historically valued at 10x earnings that currently are short of their capital requirements.
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