GR and the Board were busy trying to sell assets and raise new...

GR and the Board were busy trying to sell assets and raise new capital in early 2008. The sale of Bear Stearns to JPM at a huge discount in March 2008 sent a clear message to investors - patience may be rewarded with similar discounted assets. From that point on it was always going to be a near impossible task to raise capital or sell assets. If it were easy to sell assets (without massive discounts) - the banks would have insisted on more asset sales in mid 2008. IMO TP is entirely correct - GR has done a fantastic job.