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.
Strategies & Market Trends : Value Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Spekulatius who wrote (39721)10/18/2010 9:25:34 AM
From: Madharry1 Recommendation  Read Replies (1) of 78751
 
I find what you wrote particularly vexing- the gall of those cnbc grandiose types- the double standard that its somehow ok for ceo-s to screw employees, shareholders, and customers, skirting legal issues and then argue with somebody doing something perfectly legal on moral grounds? I was drawn into a legal situation by an acquaintance who worked for a privately own company for decades. like all employees she participates in some erissa plan where she was given stock in the company annually as her pension. now she was terminated along with several other employees and according to the plan, when she is terminated her shares in the plan are purchased at appraised value in the calendar year end following the termination. sounds good except that the appraised value dropped by more than 50% from the prior year end and they refused to furnish a copy of the appraisal because they had no obligation to under the plan. She is also not given an option of keeping the shares with the company and selling them off over a period of years hoping that the appraised value will increase. sounds like a scam to me.

I remember warning you guys on this three years ago that people would make business decisions and walk away when their mortgages were underwater and i got some moral argument then too.

The reality is that banks didnt care when they orginated the loans because they planned to foist them upon stupid investors backed by aaa rated scores offered by agencies who had no skin in the game. If it was your or my money going to fund some real estate purchase in a state where the there is no legal obligation beyond the mortgage collateral to repay would you ever have lent more than 80cents on the dollar? youd have to be nuts.
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