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Doral Financial Corporation Message Board

  • rispleen rispleen Dec 11, 2006 11:00 PM Flag

    distressedinv is right: Fidelity is still

    brokering Doral CDs; not just in the secondary market but also in new issues. I find it hard to believe that Fidelity would do this considering how conservative Fidelity presents itself as being. It would be easy for Fidelity to discontinue brokering deposits of institutions that have severe regulatory actions against them (such as C&Ds), but it hasn't. It's even more difficult for me to believe that they would sell Doral's CDs since Fidelity has other interests in the company, such as being the largest institutional owner. It may not be illegal but it sure raises questions about Fidelity's ethics. Just my opinion.

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    • Ethics rispleen? gimme a break. it is a CD sale...insured by the Feds. If that is why you own this stock you are lost. DRL legally has equity and book value. However without lawsuit accrual and with tax loss on its book. All legal. Where money is made is when you come to a decision not based on CD sales but on reality. Listen to the experts not solo and distressed. Why would 3 brokers go to a sell when it is under $5? Because the stock is weak and its net assets are shriveling up due to losses.
      Short the DRL stock and go buy a CD.

      • 2 Replies to valuebbuyer
      • You are wrong and should admit that he has a point.

        No one would knowingly broker a CD if they thought it was a foregone conclusion that the issuing bank would default- esp. a reputable firm like Fidelity.
        You make it sound as if the FDIC has a check in the mail the next day after a default.
        IF you know anything, that process is lengthy and to be avoided at all costs.

      • Where do you get your information?

        (1) Abrokered CD is only insured by the FDIC up to $100,000 any amounts over that level ARE NOT insured.

        (2) Where do you get your "institutional brokerage rumors" from? What institutions do you do business with that actually have an axe or follow Doral?

        (3) What Bankruptcy Court did you work in and what was your job - it certainly it didn't have anything to do with the law - the FRNS are not secured. Have you actually read the indnture and do you understand at all the coporate structure at Doral Financial?

        (4) You keep talking about DRLs liquidity - you don't mind defining it and showing us what you see that the regulators don't?

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