<<Management should consider themselves lucky if the government (FBI?) hasn't already opened a CRIMINAL investigation for FRAUD.>>
For what it's worth....I was going to place a GTC order on rmbs for $5 with my full service broker SSB. Actually, I did this on their online site. I was very surprised when my broker, who is VP of this region, called me. I guess when you do stuff on their online site, it alerts them as to what their clients are doing. Anyway, she called and told me she saw I put the order in and asked me why? I told her I had lost a ton on rmbs and regardless, I thought $5 would be a good price to buy and maybe exact some revenge. She could not give me specifics, but she said "keith, this is not a stock you want to own right now, or in the forseeable future". I asked her why, and she talked about the court cases....she then hinted at the fraud allegations. I asked her if a "larger organization"<ggg>....was getting involved. She said she would not and could not comment, but that I am smart enough to deduce for myself. She said she is already aware of class action suits being put together by shareholders, but she also said the company and it's officers will be under tremendous scrutiny from the highest powers in the market. Although she didnt say it, I took this to mean the SEC and other agencies are now taking a very keen interest in rmbs, it's officers, business practices and etc.....
She did say, she had no knowledge of how anything would turn out....heck, she doesnt even follow rmbs much she said, and she said anything could happen including rmbs getting good news and shooting to the moon.....but she did warn me and tell me that I was taking a big gamble, even with rmbs at $5...she said if things get nasty, and they can get much nastier then now possibly......rmbs could find itself in a heap of hot water, which could take years to play out and the worst case scenario is rmbs not making it out of this intact. The best case scenario, is very unlikely she said, and even then...it would be so far away, it is not worth putting anything but gambling dollars into the company.
KG |
