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Can Citigroup Be Restructured Without an FDIC Resolution?

Don't understand the need for the bk if bondholders voluntarily covert to equity and depositors are insured. And why even bother to convert except to satisfy the regulatory traditions about capital ratios. If bondholders agree to an interest moratorium for a while, without converting, profits will still flow in the form of retained earnings would still flow into capital. It's not as if there are a lot of unsecured creditors to protect like there are in a manufacturing firm bk. Or are there? The swap counterparties and the like? But then, how does your program address the systemic risk issue? And what is the rush to do anything? C is an unmanageable conglomerate. It needs to be disaggregated, its parts sold off, its real estate sold, in a word, shrunk to a size where it can be taken over by regulators. The alternative is to shrink it while under government control and by then it will look like, as they say in the garment district under such circumstances, "the goods is putrid." I think there reluctance to address C more straightforwardly has to do the the unspoken international and foreign policy fall out, which would be plenty great even without the Chinese blackmailing us. Although I generally agree with your perspective, I do grow weary of guys giving theoretical prescriptions that seem to reflect an absence of real life experience managing insolvency from the inside of a bank. Let's just say, its exponentially more difficult than friendly mergers.