there's a convo going on one of the channels i'm monitoring, and it pretty much tells why the bush idea of reforming social security ... is the wrong approach.

why do you think the bushites are pushing so damned hard at getting our tax dollars into the pockets of wall street executives?

[10:52] As of this morning RCN is trading on The National Nasdaq Market. Shares of our common stock are now being traded under the ticker symbol RCNI.
[10:52] hrm
[10:53] $20.10
[10:53] not so bad
[10:53] well, that's with no debt, and total loss to the previous stock :)
[10:53] until they go Ch. 11 again and null that stock :)
[10:56] I never sold all my rcnc, I gotta figure out how to take the loss on that
[10:58] up the rearend, mostly
[10:58] rcn is whole again?
[10:58] I dont understand, the old stock became worthless, how did they issue new stock? who got money from this one?
[10:58] kinda
[10:58] they had a new offering?
[10:59] old stock is worthless
[10:59] the financial institutions that agreed to pennies on the dollar when they filed for chap11
[11:01] so the financial institutions that were owed money, get this new stock instead?
[11:01] something like that
[11:01] doesnt say how many shares were issued, I'm curious
[11:03] 1.2 billion of obligations was converted into this stock
[11:04] 1.8 billion of the old stock was 'eliminated'
[11:26] shares, or dollars?
[11:26] must be shares
[11:32] this is sort of unfair.
[11:33] stock holders are at the bottom of the food chain
[11:33] their debt was just dissolved, the bigger financial institutions, get the re-issued stock.