Monday, April 16, 2007

Subprime! The legal onslaught about to be unleashed!

Subprime Losers Blame Bear, Credit Suisse, JPM, Morgan Stanley

When Buck Meyer thinks about the $300,000 he lost after he bought a subprime mortgage lender's bonds, he doesn't hesitate to denounce financial titans Bear Stearns Cos., Credit Suisse Group, JPMorgan Chase & Co. and Morgan Stanley

Posted by tyrellcorporation @ 11:36 AM (497 views)
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4 thoughts on “Subprime! The legal onslaught about to be unleashed!

  • financial planner says:

    “The company recorded as profit fees from administering mortgages that it would receive in coming years, using standard accounting rules,”

    Crazy – just crazy. Why on earth is this still allowable?!!!

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  • “At what point did it become a Wall Street Ponzi scheme?” the investor asks.

    Well, ask yourself the same question in the UK. About this time last year I’d say.

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  • Wow. That answers a long standing question of mine as to who was buying up these 21st century junk bonds. I’d always figured it’d be the hedge funds, not your average mom and pop investor.

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  • tyrellcorporation says:

    It beggars belief eh! The last time the average Joe got involved in share dealing we got the DotCom boom – and bust. When people ignore the fundamentals either through exuberance or ignorance things are headed for a fall!

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