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Its intersting, I down loaded the Gotham report but haven't dug through it yet.

I'd dig thru it if I were you. If you've invested in this company, I'd be curious to know whether you have any counterarguments to some of the very serious criticisms brought up in the report.


-audited by KPMG, switched to Anderson in 1999, with highly creative accounting
-misleading statements in press releases and earnings statements
-risky investments in farm loans with generous conditions
-inadequate capital reserving for bad loans, compared with other lenders
-mismatch of long-term assets with short-term obligations, with potential for credit crunch
-Enron-style round trip loans and guarantees with off-balance sheet entities
-conflicts of interest in board of directors
-abusive insider remuneration, particularly with stock options
-mistakenly identified by Bloomberg as AAA rating by Moody's, recently corrected to NR=not rated

And all this, trading at rather high multiples to reported 'earnings'. It sounds to me like it's about as egregious an example of a stock to avoid as one could dream up. I would think it would be hard to invent a better prospect for disaster.

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