Then, I'm Just Doing the Math, and That's Less Than a Hundred?

Gma needed to raise money, which meant that they needed to get bondholders. They had to convince enough bond holders to swap their bonds for equity. For that, they needed 75 % of those bondholders to agree. And pimcos ike, oh, unfortunately, that's just not going to work for us. So eventually the government just gave up and said, ok, you can convert to a bank holding company anyway. That was one of bill grose's, like, ingenious things that he did wa sort of front run the federal government during the crisis.