Read the whole article. BK off the table. If they were enev considering BK over the weekend, the best way to clean up Balance Sheet would be to WIPE OUT THE COMMON. Raising Cash thru Sales, sorry shorts, writing on the Wall. BK - NOT
The New York company has sold some of its $6.3 billion in European sovereign-debt exposure in recent days, according to people familiar with the situation. Those are the same bets that backfired on the company. It couldn't be determined who bought the positions or at what price, but the sales are believed to be at least in the hundreds of millions of dollars, according to people familiar with the matter.