Selling to WBC provides about 40c a share. That leaves the loan...

Selling to WBC provides about 40c a share. That leaves the loan book. Acccording to Merrill Lynch last month the loan book in the most pessimistic scenario has a "salvage value" of at least 55c - more if a couple of banks were to go toe to toe in a bidding duel. Thats a valuation which assumes RHG never writes another loan ever again which appears to be the case.
Last time I checked that added up to 95c.
My conclusion is if these bunnies sell it down to 55c then I will be stepping up to the plate big time.