They're also discussing a Rights Issue. Sounds to me like the equity companies would get new common from their current preferred shares, and then more common issues, possibly in an IPO as you suggest. The Gov would continue to care-take the current mortgage-backed securities and eventually unwind them (auction them to the highest bidder). I could be wrong; more info is needed. I think the other guy is right, unfortunately. May be a carnage party later today...
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