Chatter Of The Squirrel

Most Interesting Website

March 19, 2007 on 3:17 pm | In Me! | 1 Comment

Take a look at this company website.

Particularly at their company’s stock price ticker at the bottom left.

Their stocks dropped to US$0 in less than 2 months.

And what business are they in? They’re mortgage lenders. And a pretty big one too. Carrying something likeUS$23 billion of debt.

And in this “booming” real-estate market, what could have precipitated this disaster?Read this.

And learn some sense.

Even Homer Simpson (in a recent episode) has learnt that bankruptcy laws had changed in the US.  You don’t get a clean slate anymore by declaring bankruptcy. Your debts will still be collected.