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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (115682)	4/8/2008 4:35:10 PM
From: GraceZ	Read Replies (1) \| Respond to of 306849

It's getting dangerous to be a big accounting firm.

To: Giordano Bruno who wrote (115682)	4/8/2008 4:47:16 PM
From: ChanceIs	Respond to of 306849

>>>Bear Stearns hit with $1bn hedge fund suit William Hutchings<<< Lets see. Where to start.... There goes the Manhattan office tower, Good thing they have the FED backing them up, Now that the FED is backing them up, the lawyers feel confident in bring suits - won't end of worth an uncollectable claim like they did with Enron, Good thing that CEO sold at $10, the rest of the shareholders who could have bailed at $2 will now get zippo.

To: Giordano Bruno who wrote (115682)	4/8/2008 4:53:49 PM
From: ChanceIs	Read Replies (1) \| Respond to of 306849

2002 Deja-vu all over again. How many times have I said it. This thing is playing out just like the summer of 2002. Enron had imploded and the lawyers were climbing all over it. The young AGs were gunning to get some convictions for their resumes. Dianne Feinstein was wailing at Andrew Fastow saying, "Look at what you did to my state," on CNN. The accounting firms imploded for cooking everybody's books. Confidence in the markets was shattered. Shattered. Shredded. Pounded into dust. And then nine months after the last rate cut a HUGE high volume sell-off arrived in October. We haven't had the correction yet, but plenty of sodium phosphate has been administered, and it is just a matter of time until the porcelain flies. (That is an obscure reference that nobody under 40 would understand.)