A little history Kmart swapped their kmprb stock for common and then they went bankrupt. Reissued the common and bought out Sears and ran it up to 156. The original share holders were left out with a loss of all shares.
What do you think will happen to the preferreds A & B, given that they are equities, I read in the M&A report, concerning the common shares,there was only one mention concerning the preferred shares, are you considering this as part of the debt that BAC does, not want to guarantee, and if so how can they classify a ownnership position as debt?
As far as I know CFC does not have any traditional preferred shares. Both the A and B are preferred stock in a third party trust. The trust's only asset is subordinated jr debt. If this is true then I'm probably toast since i own the prB shares.
If Ken Lewis wants to put CFC in a shell corp to pick up all the good parts and leave the bad to die in some shell corp, he is going to jail. That's fraud- plain and simple. That said, I can't mess around and I sold my shares at 17. Hope to buy in later but I don't need the stress!