GREY:ROAOF - Post by User
Post by
manfrommarson Dec 20, 2008 8:45am
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Post# 15659283
Predator lenders are striking some killer deals
Predator lenders are striking some killer dealsTake a look around.
As I said on a earlier post, I have bottom fished a U.S. financial stock called Thornburg Mortgage which was a $250 stock at the peak of the financial bubble. They were high end bulk mortgages, no sub prime.
It crashed to pennys, they had to do a 1 for 10 R/S on 400 million shares O/S which made it 40 million shares O/S to keep their NYSE listing and the share price still crashed back to pennys and they still lost the listing and now trade pink. They arranged $1.5 billion financing from a predator lender out of the Caymans called Matlin Patterson who's involved in predator lending to a few U.S. bank stocks. Thornburg had to pay 18% interest on this for the first bit and then it dropped to 12%, but on top of that Matlin Patterson got 250 million shares at .01 cent !!!!!!!!
They f ucking own the company !!!!!!!!!