Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Spark who wrote (503)	6/26/1999 4:29:00 PM
From: Zeev Hed	of 1438

Spark, as legal as they come. They file their S-3 with the SEC and the SEC bless the shenanigans. Legal thievery that even the Mafia would be proud of. But our "protector" the SEC lets all these companies fail by the dozen, it is all legal. The old usurious high rate junk bonds were not as toxic as this new variety of debentures. But you know what? There are always stock holders that are going to stay "married" to the dream, or have some misplaced loyalty to the company (as if the company was loyal to them), and they stay in and of course average down... Zeev

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