I have owned a small portion of this company for since 2007. Made good money on this during the early 2000s. Got in and out at various times. At this point I just figure hold to the bitter end. The remaining loss just isn't that large.
When it got slammed in 2008 I figured that if it survived that as the mortgages on its books had the princ/int payments, or were refi they would pay the related debt they held. But since at that time the value of the investments was > the debt in the long run the value of the company would come back. Once again that assumed they were forced to liquidate at the bottom.
It seems like they have made it through the worst, but their long term investments and debt are still basically a wash.
Any of you that have been really getting in the detail give a short answer to what why that condition seems to persist.