In accordance with the approval, on December 9, 2009, we repurchased all shares of the TARP Preferred Stock by using $25.7 billion from excess liquidity and $19.3 billion in proceeds from the sale of 1.3 billion units of Common Equivalent Securities (CES) valued at $15.00 per unit....

My biggest problem is that the absence of a tiered system makes it possible (extremely likely) that this could be applied indiscriminately.

Rarely is it done overnight or by a single generation...acquiring and keeping extreme wealth is a long building process.One of my favorite cartoon drawings is a short series: it shows a large wagon holding a few meek individuals and a lot of folks pulling the wagon.

While I'm not going to comment on their business models (they often make bad investments), they are extremely competitive because they have the ability to leverage large amounts of (borrowed) capital.Donald Trump is another good example.

Without knowing all the coverage details, that seems extremely high to me as well.

The prices, particularly in my area, are extremely low.

This is a technique which is used commonly by sophisticated investors, but threshold for action is very specific.

Hi Steve - Thanks so much for your extensive reply - extremely helpful!

These comps are all single story, so I am assuming at least for the 3 bed that the common areas suffered in order to make these bedrooms happen.

A recent book I've picked up by Donald Trump mentions how he set his goals extremely high.