Re: kiddtrader / Re: ptsc4me Milestone: Pay--Lamberts.
in response to
by
posted on
Jul 30, 2009 05:30PM
I'm not surprised to see your request, I almost expected it. I thought long and hard before I posted that information knowing someone would probably "try" to call my hand, which is exactly what you are doing. I'm not going to call the man, who is VP by the way, and ask him to recall a conversation from over 10 months ago. I really don't give two flying flips what people think and certainly won't fall into your fly trap. It was his opinion, much like the one you constantly provide regarding legal issues. Just as I take your opinion regarding certain legal issues at face value, I also take a VP and a Directors opinion regarding financial statements at face value.
At the time, he talked in great detail explaining how and why it could have included more information concerning the ARS. As I clearly stated, he said they were certainly in compliance but also not saying any more than required. I won't name companies because I can't remember them, happy? I will say this, at the time I sent an email to Patriot, per his recommendation, asking if they had done a Mark to Market evaluation of the security. They responded saying they felt it wasn't necessary. He was puzzled by that since a vast majority of their clients had already marked their ARS securities and reported it in their financial statements. He noted it wasn't required but certainly removed another layer of transparency that investors need to see. Many of his clients marked and reported the security knowing they had no intention on selling it but, they wanted no issues concerning tranparency about the current investment value at that time. I'm not accusing the company of illegal actions. I'm merely standing behind Biajj, Lambert and others 100% regarding Patriots apparent divergence back to the way things were, silence. Also, what happened to the companies statement below? I remember you along with others, telling me I was incorrect regarding the ascertain that Patriot would NOT see the money in the timeframe they outlined.
"These instruments are collateralized in excess of the underlying obligations, are insured by the various state educational agencies, and are guaranteed by the Department of Education as an insurer of last resort. We have the intent and the ability to hold these investments until the anticipated recovery period which we believe will be less than twelve months." Per the 10Q--- 4/9/2008
Isn't today July 30th 2009?