Now this is a proposal that makes sense. Tricadia is not considered a "good citizen" by many these days...a reverse merger would allow Tricadia the opportunity to go public under the radar.
Business model? That's easy...successfully unwind the CDOs and synthetic CDOs they helped create and profit on the back end of their creation.
NOLs? Obviously Corus was in the business and therefore the NOLs are available because they would continue in this business.
It is a beautiful play...if you like capitalism.
This is the only explanation I could come up with that does not require a Mr. Big.
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