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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: turnaround_seeker who wrote (542)	4/26/2012 1:34:38 PM
From: grahamcracker	Respond to of 1876

I didn't necessarily mean fraudulent in the legal sense..... I meant that standards were relaxed to an absurd point. My main point is that the relaxed standards were part of what Buffett calls the "institutional imperative". This is basically the adult version of the kid's defense that "Johnny dove off the bridge so I did too." Companies usually add the qualifier: "the market demanded it." And literally, everybody was doing "it". I'm satisfied that if anyone needed to be prosecuted at NFI, they would have been. Any pending accusations will be evaluated and processed by our court system doing its job. No big deal and I don't see anything the company needs to be particularly concerned about at this point. Not worth it for me to get worked up over.