Quote:
Originally Posted by Edward64
Not sure I understand how this can go through at such a steep discount. Reminds of of post USSR when the robber barons got some Soviet assets at a steal.
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After closing at around $30 a share, BS was trading at $.09 in after hours trading since then. The $2 a share actually marks a significant premium, although the holders of the stock aren't getting a haircut, they're getting a completely shave.
You'll get the usual nonsense blaming subprime lending, but this collapse was due to complete systemic poor investments, decisions and actions throughout the company's entire portfolio and business model.