RE LOANS FILES FOR BANKRUPTCY PROTECTION

RE Loans filed for bankruptcy.  While this was inevitable, no doubt, it’s still a shock to the system.  Despite the fact that it’s our money, our lives and our futures, the real bankrupt entity is the Ng Family Dynasty.  They’re morally bankrupt.  They’re ethically bankrupt.  Yet they’re still out there doing business and tricking more suckers like us out of their hard-earned savings.

Maybe Led Zepplin said it best in “When the levee breaks”

If it keeps on rainin’, levee’s goin’ to break,
When The Levee Breaks I’ll have no place to stay.
Mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home

Equitatus posted the following a few minutes ago: Continue reading

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What’s New In The Zoo?

A few items for your consideration and comment:

  1. KGO investigative reporter Steve Fyffe has been interviewing investors and noteholders.
  2. Hundreds of noteholders have contacted the FBI.
  3. People haven’t yet embraced the new message board (http://s3.excoboard.com/barkinvestors) – try it out today.
  4. Weissenborn remains in hiding.
  5. The Ad-Hoc Creditor’s Committee must be holed up with Weissenborn.
  6. Barney hasn’t sued or been sued in months.  Weird. Continue reading

Required Minimum Distributions (RMD’s) and your “investment”

Equitatus brings up an issue that has been discussed here and there, but we believe this topic is important enough to highlight and discuss:

Equitatus writes:

“I’m not asking for tax advise but my brother noteholder will be 70 this year. The following is from the IRS web site:

Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 70 ½ years of age or, if later, the year in which he or she retires. However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs must begin once the account holder is age 70 ½, regardless of whether he or she is retired.

How do make or account for an RMD when you funds are frozen?”