Hi all,Pretty sure this is just SOP from a rule book written...

Hi all,

Pretty sure this is just SOP from a rule book written long ago. Banks take equity during the low points ( eg at 20 cents convertable notes for BPC which later went to more than a $1.00 come recovery ) ignoring the fact that they are happy to take a stake despite protesting previously how bad things were.... Obviously some parties have been suckers as this does not ring true.

The banks are simply being bastards and screwing people 'because they can' as per the Wall Street example.

Down the road expect to see the vast majority of book entry writedowns written back as per the BPC example - this did take around 12-18 months though.

Blastoff