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Strategies & Market Trends : Making Money is Main Objective
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To: Softechie who wrote (616)1/24/2001 8:08:20 PM
From: Softechie  Read Replies (1) of 2155
 
Actually BofA has $4.7B riding on Finova. I'll borrow a statement from a poster on CNC board about loans...

To:Puck who wrote (3948)
From: BWAC Tuesday, Jan 23, 2001 12:03 PM
View Replies (1) | Respond to of 3958

<misjudged. One was the willingness to extend Conseco's debt repayment schedule >
Somebody here put that thought best: "When you owe the bank 200,000 and can't pay you have a problem, When you owe the bank $2 Billion and can't pay the bank has a problem" And you can be sure the bank will make sure that everything works out.

Another poster once pointed out that IF CNC went under, that the banks holding the loans would be the best short candidates to target.

But all we heard here, uncountable times daily, was "CNC is bankrupt, you'll lose all, going to zero, same profit potential in shorting a $5 stock as in a $100 stock, etc. etc. hyped dire unsubstantiatable warnings." Incessantly.

Now I know most of those shorters were in fact smart people.
So why the need to try to hook and negative hype somebody into selling out? Personally I detest that kind of crap. And I detest that there are people who profit on others by employing such tactics. CNC over the last year is a textbook example of short sellers using the internet to attempt to drive a company into bankruptcy. Where is the SEC on this? They could have a field day.

(btw The same goes for some of the $100 Billion overhyped no sales no earnings companies)
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