read it again. fed does not own the equity piece of this portfolio. funny how conveniently these numbers came up... and how close they are to the initial estimate done only over 2 days in march...
That story is like when the doctor comes out of the OR and tells the family "I'm sorry but it's not going well, but we have the best doctors in there working on him." (The guy is long dead; they're prepping you to take the news). Next release it will be down $8B, then $15B, etc...
the Fed. release was after the close and before a 3 day holiday. amazing that the Fed. assigned a value to something that has no bid.