Fred was chastising folks for selling Anthracite Capital in those May '09 posts, BUT...
They went Bankrupt & FredTheBagholder was wiped out!
UPDATE 1-Anthracite Capital to liquidate under Chapter 7
Mon Mar 15, 2010 9:18am EDT
* Court to name trustee to oversee liquidation
* Shareholders not to get any value
* Sees minimal recovery for unsecured creditors
* Co externally managed by BlackRock Financial
March 15 (Reuters) - Troubled commercial real estate investor Anthracite Capital Inc ACPI.PK filed for Chapter 7 liquidation in a Manhattan bankruptcy court more than three months after defaulting on its debt.
The company said the court will appoint a bankruptcy trustee to oversee the liquidation.
Anthracite said shareholders are likely to be wiped out in the liquidation process and recovery for unsecured creditors would be minimal.