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Re: jmhgolf post# 28235

Monday, 06/25/2012 3:10:59 PM

Monday, June 25, 2012 3:10:59 PM

Post# of 60139
Here's the beauty of that...

The money SUGO was taking in on the death spirals wasn't even going to fund the claim options. They borrowed separately, on a secured basis, to get the claims. Those secured parties foreclosed.

So, the toxic dilution death spiral was there to do nothing but fund salaries for management. Yay!