You're wrong and right. If you earn sufficient income receiving a 20% risk-free return is great. With the Preferred is further mitigated if the Preferred is non-dilutive and convertible.

Having those conditions to protect the Preferred exposes the Common to greater risk of dilution and an R/S. You'd figure that the RIGH and TGGI convertible debt owned by BCAP has those same conditions.

I still don't understand the rationale for yesterday's PR (timing or content).

"Not saying this is what happenend, but rich people didn't get rich by being honest and trying to get 10 - 20% a year.  After all this is the land of the crooks. so just like the bashers, they also have an agenda."