That's it in a nutshell. I don't believe anyone who has a...

That's it in a nutshell.

I don't believe anyone who has a current financial interest in the company wants to see it fail so I am sure the management team is trying to find a solution that will be acceptable to everyone.

The actual terms under which the D2E swap are announced will need careful scrutiny. I'm sure there will be no shortage of experts on call if it happens.

For CNP, the pain that the bankers are currently feeling after the AFG and ABS collapses may work in our favour. The management teams at banks haven't seen a lot of big corporate collapses for a few years and AFG / ABS will remind them of how messy, time consuming and expensive they are to work through.

This reminds me of a demonstration which is used to illustrate game theory. You sit two people down and tell them you are going to give them $10 to share but they have to agree on how it is to be apportioned and only get one chance to play. It helps if you actually get a $10 note out to make it real. Person A has to name the share of the $10 that she/he is prepared to accept and if person B agrees with this, person A gets their nominated share of the $10 and person B gets the remainder. If person B disagrees, neither of them gets anything. Try it.


I haven't looked at any of the posts while I was away but I may try to scan through in the next week or so. Was there anything big?