Here is a response on LU board, and I am placing it here, because it also provides a little bit of an answer to some of you. More will follow later, as time allows.
"Here is a short response for now. From what I have, and lets say, the papers I have seen, they have false charges of about a 10 to 1 ratio and possibly worse (this means for every $1000, there is really $100). Basically, those are the amounts owed and disputed with Level but Level 3 still show them as revenue. If I recall, I think something similar happened with Northpoint Communications, and investments that were to be were cancelled, and so they quickly went BK. The situation is a little different for L3, in which they could get investigated. I believe Mr. Buffet recently bought their debt, and he is going to be in for a shocking surprise, and very angry to find that what he bought is a hell of lot less. I don't know when all of this is going to come to surface, but for Northpoint, it took somewhere between 8 months and a year before the information got to needed ears. That is about how long it has been for Level 3 since their corrupt charges." |
