Confusing because there are two possible causes: 1.) Investors who bought the promoted packaged product last year and Corporations who recieved the CDO and venered tranches several years ago. 2.) Legal concern about hiding and falsifying direct relationships to information stated in last years annual report. This was the contradictory statement regarding mortgage package purchases during 2005 and 2006, relative to (paraphrased:hope that those who appraised the properties in the mortgage packages we purchased use the same ethical standards used by our agents)the actuality.
How much of a wait will the loosers do nothing; until they forget or see their tax return in 2009 (nine).
LEVERGING BUBBLES, bank examiner to visit Investors Bank Corporate soon. Remember, management has not disclosed facts and information plus deceptively pumped up the ballance sheet collateral.
RE: Press Release;
Stock Buy-back of 10% float with borrowed money; last time Jersey bond buyers supplies the capital.
Buying other banks loans and paper from unknown smiling faces in amount of $1 billion in 2007 (25% of security and loan portfolio).
Paying interest amount of $60,000,000 to keep solvent and business afloat.
Using treasury repurchased stock to ballance liabilities?Wait; thats illegal...
P.S. I vomited on the keyboard while reading the press releases; you will have to wait until I clean it up for my report presentation.
Do you have any idea how UN-ETHICAL and UNTRUSTWORTHY Goldman Sacks (GS) operant greedy behavior is: pandering salesforce to selling investments to retired couples while the Goldman Sacks backroom is shorting the securities; negative confidence.
Capitalism should be killed.
Management is liers: the packaged mortgages are "off the ballance sheet", that is, the veneered traunches are not listed. THESE ARE NON-SECURITIZED DEBT refered to in business articles last weekend.
Your friendly comm,ie
I am real busy with H & R Block tonight: they did not release earnings as scheduled today because of Options One ... there are several loan traunches and they will make a fund(package) so that greedy can buy a share and the best traunches are presented like fruit market baskets with the bad at bottom.
I have been around the merry-go-round short 5 times max.
I hope to study the report presentations posted in several days; ochen harishau.
with due respect,
Almost half the loans were purchased on the secondary market from other financial institutions ($660 million) in 2007. Higher amounts purchased in prior years according to filings into SEC. The annual financial data reports to June 30, 2007. Do you think that the value today of these properties and loan agreements is the same as when made(originated) or is the asset value less and loan rating less? Big time problema?