Quote:
Originally Posted by Naive
Roger Strong - Your persistent Jabs at the investors of this project are getting old. Not sure what your motive is, but where I come from people that get enjoyment from others peoples misfortunes are ASSHOLES !!!!
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Oh, spare us. We're making fun of the project, because it bloody well deserves to be made fun of.
The investors not only knew that they were making a high-risk gamble (syndicated mortgages), but knew that they were gambling on people (Rathore and Petrozza) whose previous business (Phoenix) ended in the "investor victims" (the judge's words)
being ripped off. The 2011 settlement banned Rathore and Petrozza from trading in securities for the next 15 years. Given that Rathore was also banned from selling mutual funds in 2005, I'm guessing the business before Phoenix ended in much the same way.
So a VERY high-risk gamble that didn't pay off. That doesn't mean that we can't make fun of the project.
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