Quote Originally Posted by Enumerate View Post

2) Introducing new capital to SCF effectively underwrites the government's retail guarantee risk. It is rational, financially, to pay something to have your risk exposure eliminated.
But theres the rub. A significant part of the value in SCF is its brand, particularly around AH. After Fridays revelations I can't help but feel the brand has been severely undermined if not fatally damaged. SCF didn't do enough to separate AH from its brand over the past 8 months.