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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (30439)3/27/2008 10:34:19 AM
From: Keith J  Read Replies (1) of 78751
 
Paul,

I agree with you. But nobody likes to be in a losing position.

Watching the CCU dealings with the banks regarding the LBO and financing. Per CCU's legal complaint, it appears that the banks are trying to get out of their obligations because they would have to take a mark-to-market loss on debt to be issued (even if there is no default on the debt, which to me sounds absurd). I view this as little different than homeowners walking away from a house. This could get real interesting.

KJ
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