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Non-Tech : Cityscape Financial (CTYS)
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To: Ploni who wrote (1158)10/21/1997 9:28:00 AM
From: Rational  Read Replies (1) of 2544
 
Charles,

CTYS officials seemed friendly before the lawsuits and became more formal and tight-lipped after the lawsuit. I do not attribute their reservation, per se, to any bad news.

I cannot really figure out why (despite my alternative guesses) they had to register the securities now, given that they did not need to do so until the next year. I still feel that in the short-run the price may not appreciate much, if any. But, the long-run prospect of the company is not as doomed as it looks from the recent price drop, IMHO.
Have you noticed yesterday's American Banker which reports that SEC has approved delinquency rates upto 20% in loans pools and that this will help subprime lenders? Cityscape or anyother subprime lender's name is not reported in the article, but AB says this is a victory for subprime lenders. This ruling will generate more cash flows for subprime lenders.

Sankar
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