--- In [email protected], "shempmcgurk" <[EMAIL PROTECTED]> wrote: > --- In [email protected], "Cliff" <[EMAIL PROTECTED]> > wrote: > > Precisely zero, I believe is Peter's point. > > > > Com'n...certainly we can assign SOME sort of discount factor to > those bonds, no? > > 50%? 10%? Even 1%? > > Well, maybe you've got a point. At 1%, they'd be worth > $6,000,000,000 and I'd be hard-pressed to imagine anyone paying even > that much. > > Assuming the colatteral for the bonds would be the worth of the TMO > and assuming that to be about (and this is a complete guess) $1 > billion, then the discount factor for the bonds would be about > 0.175%.
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