"Dave" wrote in message
...
On 8 Sep 2008 09:46:02 -0500, Dave said:

And
for too generous to the companies' stockholders.

I should have added too generous to the subordinated debt. A more
realistic
plan would have wiped out common and preferred holders, and given holders
of
subordinated debt common stock. I suspect the problem with that is that
the
subordinated debt, and probably much of the preferred, is held by banks,
so
that would have hit the banks' capital, limiting their ability to lend.

Even though Ganz (MBA) has no grasp on what you explain, others do and
appreciate it.