Think most people are just amazed at what is going on. I was expecting some of them to go over the valuation line in this bad market in Europe. But why the "going concern" thing? If I own properties, and they have individual loans, if a couple fall over and the rest dont am I still a going concern? Would have thought so. Does anyone have any illumination on this? Sell? What for. Get nothing. They'll probably just repeat what they did with the Romanian financing. All income go to lenders. Gee these banks are packing it. By acting individually, they write their collective death warrants. Just like 1929. But the European bankers have done more history. There is a lot of it in Europe to study. So far by their actions on the whole they know the gen and are acting what will produce the best result as a whole. They know if they all start panicking and grabbing what they can like the yanks, theyll end up like the yanks. Predict more Romanian style fixes. Still a lot of equity here.
AEZ Price at posting:
1.9¢ Sentiment: None Disclosure: Held
