did shareholders get ponzied?, page-9

Thanks for your thoughts Dogby, sure they have been shaky for a while, though up until the end of November/early December there were still analysts saying they were a buy as they would survive. One of those was Huntley and several other brokers/analysts.

At $30+ the analysts said they were Buy.
At $14 " "
At $6 " "
Etc, etc. all the way down to when they were <$1, there were still analysts claiming they were a buy, albeit risky at that stage.

We as laymen investors do our own research and occasionally it is not enough, so we look to the "experts" (who have much more info and resources available to them to do the research) for their opinion before making our own minds up about whether or not to invest.

My problem is not that I invested in a spec miner, it was that there appears to be something wrong with the accounting practices of this company. And yes I understand that the global economy went into meltdown and lenders are now reluctant to lend, and this is my point exactly, while they were able to borrow money, they appeared to be making money and able to pay great dividends and handsome wages/bonuses.

That all sounds very suss to me, so I asked the question, have they been cooking the books somehow and claiming these borrowings as income and hence paying divs and bonuses from this exagerated profits?

See where I am coming from? Something does not add up.

Sure we can move on and smell the coffee, there will be many between now and when the book comes out, though it is a shame that the crooks may get away with it. At least the Yanks had the nuts to look into charging Maddock and the exec's at Enron, yet our regulator appears to have no concern that these guys got fat paychecks at our expense.