50% hair cut on debt is worth more than 1 dollar rise in stock price in one hit.
60% hair cut on debt is worth 1 dollar and 20 cents increase in stock price.
As per my calculations , banks make lot of money in 2-3 years even if they go for 60% hair cut and swap rest D 4 E.
With that SGH survives, resumes dividend next yr, stock makes a sharp U turn to fair market price and banks can sell their SGH out in block deals by 2018 or 2019 end.
I am sure lenders have smart people there making smart decisions unlike the financial duds in SGH at the top.
U can do the math on rest of things.
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