Breaking News

Barney, Kelly and Bruce have been placed into involuntary bankruptcy by a group of brave noteholders.  Equitatus has all the news found here:

Let’s connect the dots.

B-4 Partners, RE Loans, MF ’08, RE Reno, Walter & Mrs. Walter, and now Bruce, Kelly and Barney are all experiencing the “joys” of bankruptcy.

What does this mean for us?  Well, it likely means the end is increasingly near.  Still, we’re looking at pennies on the dollar, but some of us have A LOT of dollars invested.

The managers totally took us to the cleaners and at this point the FBI (did you send your documents in yet?), the DOJ and everyone in between should be looking for a shot at front page news for busting the biggest (purported) Ponzi scheme since Madoff.

Enjoy the holidays, you G*ddamn thieves.

40 thoughts on “Breaking News

  1. Something is missing here. If the portfolio total value for RE Loans was 1.4billion and the market hit an all time low, wouldn’t there still be at least a 50% of value left? I just don’t understand how 750million valued on 1.4 billion at one time can now be worth only 80million. I have to be missing something. Even if the appraisal was high, the numbers still don’t add up. It’s hard for me to believe that loans were made on dirt when RE Loans was an equity lender. I don’t believe that Barney would have lent money out on just dirt, his track record over the years does not warrant that. There is a big piece missing.

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