SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Cityscape Financial (CTYS)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Chris who wrote (856)10/11/1997 11:55:00 AM
From: Rational   of 2544
 
Christopher and Venkatesh,

I am thrilled that you feel the news on a 300-shareholder filing a lawsuit as "lifting spirits." The $2.95 money was well-spent compared to a lot that I have already lost on this stock. Christopher, thanks for a promise to share this expense. <VBG>

I was not thrilled about this news because I thought of it as frivlous from the day it appeared. Quite frankly, the OP Downgrade of the stock and Moody's downgrade of the bonds are not relevant information, although they have resulted in the stock price drifting downward on low volumes and small trades. They have no value because they seem to have stemmed from Moody's "research" which does not make any economic sense. Given Moody's own assessment that the leverage of CTYS maybe higher than the FASB implies, it is natural for them to act the way they did -- they have to show in action what their research tells them. [Look! The industry reacted to this research and the Wall Street did not appreciate. So Moody's responded: You guys do not believe us!! OKAY. We will show you what we can do. We will cut CTYS. They cannot threaten big firms like Citicorp.]

Moody's will be tamed only when CTYS improves the bottom line results -- lower loan loss rates, effective handling of foreclosure, keeping the UK cloud behind, better earnings, etc. The CEO appeared resolved on these issues. They also have progressed on loan loss, clearing the UK problem, etc.

Sankar
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News