question re wind up, page-3

The debt is incurred to unit holders whether bcs is wound up or not. Either way, the underwriters pay any shortfall after the unit holders have been filleted. My guess is that Bolton is playing a game of chicken with Macquarie and Deutsche. It may well prompt them to buy shares to foil Bolton's plan.

$800 million and a piece of infrastructure sounds better than $800 million and nix. And if M&D try to get out of the underwriting obligation, I would bet that Bolton would be testifying that he was completely aware of his obligation.

Talk about the "Stuff You!" factor. It's as if these guys were all ready to shoot some fish in a barrel and a shark jumps out rips their throats out.

It has a fantastic sense of karma.