T4p - that is not quite correct...
Firstly, you can't equate it to a company in administration as part of the big problems are the borrow amounts, leverage, interest etc etc, which all play into the final amount.
I also would draw your attention to the Bear Sterns example, where their investors HAVE zero.
Thatis the number that is being quoted to spread, so in fact, based on a more widespread theory, the problems are bigger than most people imagine.
blood and guts all over the floor..., page-112
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