@shanepicker @matthewrcohn @jerallaire And in closing, I'm not saying "a convertible bond is worse for they stressed financial company than a preferred". I'm saying they couldn't sell straight preferred because there's obvious serious doubts about valuation at the time of funding.
Look at the 100% jump in liabilities!
@shanepicker@matthewrcohn@jerallaire最后，我并不是说“对他们来说，可转换债券比优先股更糟糕”。我是说他们不能直接出售优先股，因为在融资时对估值有明显的严重怀疑。
看看负债的百分之百增长！