Chris Flowers is a genius. His resume is superb, and this REFCO situation is a lay-up for him compared to Japan's Ltd's LTCB purchase. He will do well in this deal, no doubt about it!
How could he not do well, he got it for just about nothing... Strange with others still looking to enter the bid? As far as I am concerned it's to fast...not enough time to have done proper due diliguence...unless it was already in the works somewhere. The ties are too close or available private information to readily at his touch or close associates. This stinks from the lack of accountability of the accountants and lawyers over the years, to the authorities allowing the IPO to move forward, the credibility given being traded on the NYSE versus X..and if there were prior problems the sceanario of the IPO with the underwritting etc gave it credencials... thus persons like myself traded the 20plus year old firm... How the value could go from 30 to 1dollar in less than 2wks is total bull..it... Just about every law and ethical behaviour has been breached. The brokers are taking advantage of situation to the fullest. I do not mind losing in a trade...but this is plain out right stealing...fraud whatever you wish to call it... Why others are not allowed to entry the bid? What happened to the x days of the stock being halted? I understand delisting, new symbol etc...but it is all to fast and to convenient... w
Who thinks Flowers will prevail in their bid? Or do you think the Dubai group or another group will bid for the entire REFCO INC and win. FYI, Refco's lawyer said in bankruptcy court today that they have had over 30 inquiries of which 3 are considered serious.
I think if the Dubai group is serious, they will prevail. These people have more money than they know what to do with and they're slowly realizing that once oil runs out the only thing remaining will be their worldwide assets. Also keep in mind that the Dubai ruler is hard bent on making his nation into a cutting edge center for the capital markets. This would fit perfectly into their game plan. I suspect they're willing to over-bid if necessary. Too much going on for them not to lose. Unless offcourse Goldman Sachs PPT team and their guy turns in an IOU to the feds for propping the markets up.