"Dave" wrote in message
...
On Sun, 7 Sep 2008 18:28:39 -0700, "Capt. JG"
said:

The "smart money" people are saying that they should be bailed out.

What does "bailed out" mean? Should common shareholders' equity be wiped
out
entirely? What should happen to their loan portfolios--write it way down?
What about their outstanding non-cumulative preferred? What about their
debt?

"Bailed out" is just a phrase. Until it's given some content, one can't
talk
about the subject intelligently. Based on the very sketchy information
I've
seen so far, it looks to me like equity holders are being offered far too
good a deal. Initially it looks like they come away with 20% of the equity
of the reorganized enterprises if profitability is restored.


Yes, the economy is in bang up shape! Vote for Palin! She'll kill a few
moose.

--
"j" ganz @@
www.sailnow.com