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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?


To: Rational who wrote (1622)11/14/1997 2:03:00 PM
From: Ploni  Read Replies (1) | Respond to of 2544
 
Sankar,

I don't have the patience to go back through 1,000 posts, but it seems that in September and early October you were saying that the company was telling you it had a strong portfolio, and that they had sufficient liquidity, and everything was great. You felt that the S&P downgrade was due to earlier problems that had since been rectified, and reflected S&P's misunderstanding of this business, and also reflected S&P's inherent conservatism. Now it seems that prior to this time, the company was extremely concerned about liquidity, and was selling their portfolios right and left, without telling you or anyone else.

Is this an accurate review? Do you feel that the company mislead you or lied to you?

- Charles



To: Rational who wrote (1622)11/14/1997 2:08:00 PM
From: Bruce A. Thompson  Read Replies (1) | Respond to of 2544
 
Sankar, When they offer the portfolio, companies send in underwriting teams to evaluate the portfolio. The companies then bid for all or part of the portfolio based upon their individual criteria. CTYS then decides who gets the portfolio or what part they want to sell. If any. Remember, there is nothing really wrong with the US portfolio.

Bruce