That doesn't seem to me to protect the common shareholders. It just dilutes our already beat down shares. Delaney already had over 5 milion shares...is it really necessary to enrich him further at the cost of the rest of the shareholders? If we were also at the point where we were profiting I could understand, but it just seems to be more of what's wrong with Wall Stret.
I agree with your concern regarding dilution considering that there are only approx a quarter billion shares, but I believe that we all are being very short-sighted (myself included) regarding time-scales. It gets VERY hard for me personally to watch my holdings lose value so dramatically, but I hope this is only impatience on my part. I don't mean "hope" in the sense of hoping to win the lottery, I mean that I hope my analysis of this management and it's opps are correct. I think (as hard as it is to) that the last year could have been much worse for Capitalsource as a company, were it not for at least SOME prudent foresight on the part of said management.