If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
From their recent SEC 10-K filing:
We face significant challenges due to adverse conditions in the non-prime mortgage industry, and we cannot assure you that we will continue to operate as a going concern.
That’s about as blunt as you can get. Not surprisingly the stock was off about 50%. The subprime market continues to destroy those who were heavily involved. More from Reuters, Bloomberg.
Last 3 posts by Morgan
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
- No "green shoots" in employment - June 21st, 2009
Add New Comment
Thanks. Your comment is awaiting approval by a moderator.
Do you already have an account? Log in and claim this comment.
Add New Comment
Trackbacks
(Trackback URL)
August 13, 2007 at 8:48 am
[...] alive. (Remember they threw in those two little words “going concern” in to their most recent quarterly filing.) Not ...