That bailout has not been fully repaid.
Once the Fed has been fully repaid, the Treasury will convert its preferred shares to common stock, diluting existing shareholders yet again.
At the end of the mortgage term, when the price of the property has been fully repaid, the house is transferred to the borrower.
"While I am deeply distressed by the fact that customer monies have not yet been fully repaid, I unfortunately have limited knowledge of the specific movement of funds at the U.S. broker-dealer subsidiary, MF Global Inc., during the last two or three days prior to the bankruptcy filing," Mr. Steenkamp is expected to say.
"While I am deeply distressed by the fact that customer monies have not yet been fully repaid, I unfortunately have limited knowledge of the specific movement of funds at the U.S. broker-dealer subsidiary, MF Global Inc., during the last two or three days prior to the bankruptcy filing," Mr. Steenkamp is expected to say in his prepared testimony.
Earlier this month, Goldman Sachs & Company and GE Capital, a subsidiary of General Electric, offered to invest $1.5 billion to $2 billion, according to an investor in Finova debt, but their plan would also have meant that debt-holders would not have been fully repaid.
