Beans-on-Toast Britain Posted August 30, 2005 Share Posted August 30, 2005 This may have been posted already, but no further evidence needed that insiders are bailing out of the US bubble. Is there any indication yet that the same is happening in the UK... http://www.marketwatch.com/news/yhoo/story...96A6CFC6C5BF%7D Homebuilder insiders on selling spree Analysts worry sales may presage downturn after boom By John Spence, MarketWatch Last Update: 2:02 PM ET Aug. 29, 2005 E-mail it | Print | Alert | Reprint | BOSTON (MarketWatch) -- A rash of insider selling in recent months at red-hot homebuilders appears reminiscent of a similar trend right before the technology bubble burst in 2000, Merrill Lynch said Monday. Quote Link to comment Share on other sites More sharing options...
Beans-on-Toast Britain Posted August 30, 2005 Author Share Posted August 30, 2005 Big news. And the fact Merrill are reporting it so eagerly is a sign they have learnt something from the lawsuits and investigations following the dot.com bubble. It's not all rosy being a VI - after the party is over, people are looking for scapegoats. And VIs are the people who have advised them to ruin their lives.<{POST_SNAPBACK}> Yep, Wall St. banks covering their asses this time around, or at least trying to give the appearance of doing so. Can you imagine Halifax issuing such a report here Quote Link to comment Share on other sites More sharing options...
apom Posted August 30, 2005 Share Posted August 30, 2005 I've said it before, but I wonder about the legal fallout from a HPC.Imagine if in six years half of the country are sitting on nominal 40% losses. Class action against Kirsty and CH4, anyone? <{POST_SNAPBACK}> Perhaps there should be.. they must see what is happening.. To be honest I am amazed more did not see it coming. Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted August 30, 2005 Share Posted August 30, 2005 I've said it before, but I wonder about the legal fallout from a HPC.Imagine if in six years half of the country are sitting on nominal 40% losses. Class action against Kirsty and CH4, anyone? <{POST_SNAPBACK}> There will be big trouble over some debt instruments, the securitizing of debt (i.e. passing the buck) by the big banks will leave many a pension fund nursing some very dodgy bonds, it may even sink some investment houses left holding some dubious derivatives contracts. No doubt there will trouble with some BTL and self-cert loans too, accusations of misselling and calls for compensation. As seen in the past with things like endowment mortgages, precipice bonds and Equitable people (especially those of middle-class distinction) are only able to accept one way bets, if it doesn't pay off then it's somebody's fault and there has to be recompense, someone has to be held 'responsible' for their own stupidity. One imagines them storming into the bookies accusing them of "mis-selling" the 4:50 at Chepstow. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.