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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: pcyhuang who wrote (3196)2/21/2008 1:07:58 AM
From: NightOwl  Read Replies (2) of 5034
 
The model does not take account of the structures of CDOs and our contracts that provide us protections. The model does not appropriately capture the triggers and cash diversion mechanisms that support the senior interests, nor the fact that we cannot be compelled to settle contracts in 2 years, as assumed. The ultimate principal payments on many of our contracts will take place 30-45 years in the future, and in 8 of the 16 deals we've done in 2007, we only guarantee payments that would occur at ultimate maturity.

I doubt seriously whether any federal bank regulators... the Governor of New York (or any other state with the possible exception of Kansas... and maybe Nebraska)... any Bank/Brokerage... nor, most certainly, the idiot "reporters" at CNBC... have the slightest clue as to what insurance is... much less anything about financial guaranty contract terms or the structure and quality of capital reserves held by any kind of insurer.

I suppose the fact that MBIA has to waste its time responding to this self-dealing crook's "chicken little" routine is simply more evidence of the gawd awful waste that flows down the drain when ignorance meets self-regulated secrecy in the gutters of Wall Street.

Personally... I think they ought to put this Pershing crowd against the wall right now for stock manipulation per se... but maybe I shouldn't be so... "transparent." <ack><ack><pHooie!>

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