Fly on WallStreet: Lone star Fucks LEND

Friday, August 10, 2007

Lone star Fucks LEND

Nice AH's action.

LEND Accredited Home Lenders announced in filing that Lone Star would fail to satisfy the conditions to the closing of the tender offer (8.91 +2.78) -Update-

Lone Star informed the Chairman of the Special Committee of the Board of Directors of the Co that, in light of the drastic deterioration in the financial and operational condition of the Co, among other things, as of today, the Company would fail to satisfy the conditions to the closing of the tender offer. Accordingly, Purchaser does not expect to be accepting Shares tendered as of the end of the current offer period ending at 12:00 midnight, New York City time, on August 14, 2007.

# posted by Broker A @ 9:38 PM

Comments:

Interesting. I missed the AH to head for the golf course. I see the last trade was 7:59. Bad news if they go to 24 hour trading as nobody will ever sleep again. Maybe that's the cure for some of these hedge fund traders-no sleep. Mon. morning can't be all that good and that is why I usually go home flat.

# posted by

TraderCaddy : 9:58 PM

This comment has been removed by the author.

# posted by

matte351 : 10:20 PM

That yahoo snapshot of LEND's day, would suggest that while grilling 2.5 inch Ribeyes -AND- OOPS-POOPs carrying them to the table.

Fly, whats your take on this whole financial deal. What do you think the scope is? It seems like it dominates the financial dialogue, but is not even newsworthy outside of the Biz Page. I can't get enough of it-- shit I even watch Bloomberg TV.

One thing I do know is there are a lot of fuckers out there LONG Schadenfreude!

# posted by

mrkcbill : 10:22 PM

The hammer of death will drop Monday.

God willing, LAZ will go to zero, or $36.

# posted by

Broker A : 10:39 PM

Mrkc--

I think we will get a bankruptcy or two, before this matter is resolved.

Shit like this is what Great Depressions are made of.

Good Times.

# posted by

Broker A : 10:40 PM

Our market is deteriorating and if Countrywide CFC goes bankrupt, the markets will crush us all.

# posted by

matte351 : 10:47 PM

You think a Blue Chipper, or a 3rd tier bullshit house?

I'm surprised how stable BAC has been.

GS traded @ $140 a year ago that looks like a given and than some.

# posted by

mrkcbill : 10:50 PM

I'd enjoy seeing WAMU go belly up and LAZ.

Obviously, their patents are worthless.

Viz

Jog on.

# posted by

Broker A : 10:51 PM

great blog, Can you update all of us dumbfucks on your ytd% gains broker. Are you still up over 20% on the year boss?

# posted by

matte351 : 10:52 PM

Sadly, I'm up 18%.

Don't rub it in. It hurts.

Jog on.

# posted by

Broker A : 10:55 PM

Broker A, I bought SUNW back in the tech wreck @ $20 --I thought it looked cheap, then after the bombings when the markets reopened I made another patriotic buy at $10. I sold it all couple of years later.

Something is telling me SUNW is a good buy on Monday. I kind of like their CEO ponytail and all.

# posted by

mrkcbill : 11:09 PM

Fly,

If we go into a depression, will you reduce your ad rates?

When the rates on your site drop, I'll start locking my doors at night and buy a weapon.

-DT

# posted by

Dinosaur Trader : 11:20 PM

This comment has been removed by the author.

# posted by

Pirate X : 11:26 PM

I don't get it, I mean Cramer said the deal was a lock.

# posted by

Anonymous : 11:27 PM

Citigroup (C) loses %500mil

Not a Balance-sheet changer, but given the market sentiment I agree about the "hammer of death" dropping on monday

http://us.ft.com/ftgateway/superpage.ft?news_id=fto081020071933258599&referrer_id=

# posted by

Pirate X : 11:27 PM

WTF??? The FT.com headline now says $700 mil as opposed to $500 mil 10 minutes ago....DOOMED....

# posted by

Pirate X : 11:43 PM

I cannot drop my ad rates, since it will be my only source of "income."

# posted by

Broker A : 11:45 PM

since when did Broker start saying "jog on". reminds me of ducati lol

# posted by

stockdoggy : 12:52 AM

It's back to $500 million. And let me, at least, be one who votes against the alleged "hammer of death" on Monday. Any downdraft you see will be a head fake. Divergences all over the place yesterday watch for the rebound.

Besides that, I've got 26 chickens I'm going to kill to soak the Hand of Glory with on Sunday night.

_______________

Aside: I will be easily dismounted with a a feather when some of you guys learn to farking LINK a story!

# posted by

JakeGint : 12:06 PM

good news for oeh looks like its starting too be taken out buy a buyer. nice call mr. B

# posted by

Anonymous : 11:52 AM

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