My financial advisor at Citibank told me there is an SEC and FBI investigation into Merril Lynch and also Bear Stearns regarding mortgage-backed securities transaction with CFC and Beazer Homes. He warned that there will be Class-action Lawsuits arising against Beazer and it will be inevitable. He warned that Executives may be forced to declare BK to protect their personal assets. Is this correct?? I thought personal assets were seperate from company assets.
The only similar post was 08/09/07 or somewhere around the 1st or 2nd Saturday in August. That is not my message. Also, the 1st message in August was the same quote from my financial advisor. And...it was for the same purpose: to get feedback on Legal status as a shareholder since I lost money DUE TO FRAUD.
An SEC Investigation of MER/BSC/BZH/CFC as one entity is NOT old news. It is actually new to me because he is saying "there were tranactions between all four entities and THEN a cover up was implicated of mortgage/loan impairments and related losses, shredding of documents, hiding of improper loan behavior and other illegal activity in which all 4 were involved together". He said "an SEC investigation is being done to unveil the illegal activity". It seemed almost like a conspiracy theory to me and seemed to be newer news.
Good luck getting longs to believe you. They keep talking about BZ having lots of assets and so on. The point is there has been fraud in this company with a lot of unknowns. Sooner or later FBI or SEC will start talking. Lawsuits will follow. Add to that the bubble burst and that means BK...sooner or later.The FED cannot help them.Too little too late.They should have started cutting rates last year.
Minimum 25% of HB's have to go BK. Beazy has to be one of them...sooner or later.