Refco Fallout

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Quote from FXsKaLpEr:

:D

I think it was all a well-structured, highly organized intentional fleecing of $100s of millions of the public's money in one fell swoop.

key players (including the SEC) are all in on it lining their pockets.
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sec?

bigger budget from congress?
enhance their reputation of acting after the horse leaves the barn?:)
 
Quote from FXsKaLpEr:

:D

I think it was all a well-structured, highly organized intentional fleecing of $100s of millions of the public's money in one fell swoop.

key players (including the SEC) are all in on it lining their pockets.
More...

agree with there...a picture is worth a thousand words

w
 
Quote from zdreg:

sec?

bigger budget from congress?
enhance their reputation of acting after the horse leaves the barn?:)
More...
mm... maybe.

but think along the lines of evil corruption hid from the eyes of the public. :)
 
Investors are also suing Refco, and are expected to name the underwriters and auditor to the class actions that lawyer Melvyn Weiss said his firm, which has already filed a shareholder action against Refco, would soon add the accountants and underwriters as defendants.
 
Quote from zdreg:

thewoodcutter


Registered: Jan 2004
Posts: 28


New Post 10-19-05 07:52 AM

Quote from FXsKaLpEr:

that $1b didn't exactly get "wiped out," it went into the pockets of those fast enough to short the IPO.




that just about sums up your market knowledge......


explain what you mean by the above statement
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You having a laugh aren't you?

Refco have/had 125m shares in issue (some 25% of which were sold at the IPO netting the company approx $688m) the drop in the share price took roughly $1bn off the company value - however, FXsKaLpEr statement suggests, nay dictates, that to every "long" i.e. owner of the share there exists a corresponding "short". A little knowledge and all that.......
 
Quote from FXsKaLpEr:

Investors are also suing Refco, and are expected to name the underwriters and auditor to the class actions that lawyer Melvyn Weiss said his firm, which has already filed a shareholder action against Refco, would soon add the accountants and underwriters as defendants.
More...

If you have the contact info or where the above law firm is located or website etc I would appreciate any assistance.

w
 
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