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  • bmwgamer bmwgamer Aug 10, 2007 4:56 PM Flag

    2nd quarter delay?

    Why would the current events delay the 2nd quarter filing? The April to June results are not going to change. ???????

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    • Let's see Monday what happens when SEC auditors start crawling up the big banks asses. We may see a miraculous burst of liquidity and some of these magin calls go away.

    • True but they may want to mix up some good news with the filings lets say if the Gov does reduce the interest rate, or whatever maybe up their sleeve. Speculation only but I see they aren't alone with their delays so Is suspect it is pending good news.

    • Also,

      To summarize the long and short positions (Ignore the pumper dumpers)

      LONGS - Luminant has based most of their assets in quality loans that are not really effected by the current crisis in sub-prime (translation: dumb-ass) lending practices. There is going to be some deterioration in value, making this a pretty crappy quarter, and meaning Luminant is really only worth six bucks a share.

      SHORTS - Luminant has been fibbing the whole time, their portfolio is garbage, and when the truth comes out everyone is going to discover they are in-the-hole for a bundle of cash roughly comparable to the annual GNP of a small third-world country - Hello BK and Chapter 11!

      Take your pick <g>

    • Even though the financial transactions occurring during the quarter will not change, the report would contain information based on valuation of assets that, if appropriate at the time, might need to be changed to reflect current conditions.

      The million (Or let's say Billion) dollar question is, how big are those changes going to be?

    • they may not be that great and the company is under pressure to survive now, so after they get there loans done, they'll annouce it.