You're right, the gap is likely much smaller. I did a quick calculation based on: - $200bn deposits (on which we agree) - press reports that Jefferies and he

You're right, the gap is likely much smaller. I did a quick calculation based on: - $200bn deposits (on which we agree) - press reports that Jefferies and hedge funds are offering to buy claims at up to 70c on the dollar (suggesting 30% loss)