NEW YORK, Aug 6 (Reuters) – Luminent Mortgage Capital Inc (LUM.N: Quote, Profile, Research) said it was facing margin calls and worse terms for short-term financing from its lenders amid mortgage market turmoil, forcing it to suspend it second-quarter dividend.
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Isn’t this where AHM was a week ago? Am I missing anything, or is this another falling domino? I find it really amusing that Luminent announced they were fine right after the AHM press release. Why isn’t that fraud?
It’s the Enron/Lucent model of disaster management. Gives the executives time to liquidate their interests and flee the country. The PR wonk can always claim he didn’t know any better.
It’s the Enron/Lucent model of disaster management. Gives the executives time to liquidate their interests and flee the country. The PR wonk can always claim he didn’t know any better.
It’s the Enron/Lucent model of disaster management. Gives the executives time to liquidate their interests and flee the country. The PR wonk can always claim he didn’t know any better.
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