Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Pastimes : Don't Ask Rambi -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (24945)	5/19/1999 3:21:00 PM
From: E	Read Replies (1) \| Respond to of 71178

I read your post twice, and it wasn't enough for me to really be able to understand what is happening there, but I gather there is an auction going on that should be called an "auction," as it is a rather deformed version of an auction. For example, if one third of the fair market value is sufficient to make the sale legal, and a whole lotta potential free-market bidders who would be delighted to pay more than one third are being excluded by the process, it's a rigged system. So if I understood that correctly, the question isn't, in this case, "Is it fair for the bidders in an auction to collude?", it's "Is it unfair in a rigged auction for everyone to get in on the rig instead of just one or two parties?" I think that's the question. I don't know the answer, but the borrower presumably hates all the parties to his or her screwing.