Liabilities exceed assets by about 3 billion. I just cant see how the stockholder will get anything. if you really thought the stockholder will get something you can get 1000% ( thats right one thousand percent) return by purchasing the bonds at 10 cents and getting par if the stock holder were to survive.
If the stock holders get wiped out you could still get 100% return if bondholders get 20 cents on the dollar.
Secured bonds have been trading on a pretty even keel through this process....(smart money) unaffected by the daily news drivel that Conboy types are slinging...
The unsecured's (dumb money) is no different than the common share holders in terms of investing prowess. The unsecured's move radically up and down with the latest unsubstantiated revelation.
Guy's like the Bond Kid want's to act all superior because somehow his gamble is more informed than other....what a total doooooosh
Well the obvious answer here is that the "out of the loop" retail investor has two options in this play.
If the common were not such a slam-dunk, then I suppose the unsecured bonds would draw a little more attention!