That suggests it would be a good idea to convert existing government preference stock into pure equity.
这意味着将政府现持有的优先股转化为纯资产会是个很好的主意。
The preference stock is an important form of stock rights, but people only consider it as an income credential, and do not understand it has important specialty of property rights.
This capital is not genuinely loss bearing: for example Citi can defer dividends on its latest government preference stock but not cancel them entirely in the same way as common shares.