While I agree that PRE did not buy to penny flip, the investment bankers behind the financing make money ie commisions when they sell. I believe most investment banks have a separate investment arm vs financing arms. The financing arms are not there to hold any shares but rather make commisions and selling at 70 cents makes them their commisions. They usually sell to their investment banking arm or other investors but if they can get 70 cents in the market, that is all the same to them.

Glorieux