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H&R Block, Inc. Message Board

  • shaniqapie shaniqapie Nov 21, 2007 12:16 PM Flag

    Forced out or fleeing the consequences

    Three "Ernst" directors out (okay, that was an election).

    New auditor in, CFO out (spooky).

    Director and former CEO leaves for "health reasons" (that could be anything, eh?).

    CEO, president and chairman leaves (Ernst 'imself).

    Now Breeden says it may take a while to get out of Option One, because he wants to do it orderly-like.

    It doesn't sound to me as if exiting Option One is as simple as closing the doors. Maybe a lot of those subprime mortgages that got sold the same day they were originated were sold to HRB Bank as investments?

    I take them at their word that all this off balance sheet activity is on the up and up and the selling of those mortgages was legit., but when Breeden was in such a dad gummed hurry to shut down financial services and now he can't estimate a timeline, I think HRB is more tangled up than I'd been led to believe.

    Well, after "earnings" come out and they write down certain "items", it's a brand new day, innit? As long as they have the confidence of investors and all that. Enron, Global Crossing, General Motors. Yeah, the whole U. S. stock market has a credibility problem, and that's a sad thing, because a lot of Saudis and Indians and Chinese who hold a lot of our Dollars have got to be scratching their heads trying to figure out where to put all that money, and we'd better hope it's not in India stocks and China stocks and Iran stocks and Brazil stocks and gold bullion and euros.

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