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Toxie Died, RIP



October 03, 2010 – Comments (2)

I have been so busy I missed Toxie's desmise.  I don't know if anyone else posted it either. 

Pretty scary that Toxie ended up only being worth 0.45% of her peak price.

2 Comments – Post Your Own

#1) On October 04, 2010 at 6:45 AM, outoffocus (24.06) wrote:

That was cute and worthy of a repost.

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#2) On October 04, 2010 at 11:49 AM, anchak (99.89) wrote:

I have to beg to disagree - this is epitomous of not thinking thru things ( no offense Deb) -

A mezzanine strip which was serviced at 45 cents on the dollar - being wiped out due to a loan restructure ie modification - 

what does that mean ? 

(a) If you got paid on time till April on the mezzanine - ALL seniors were paid on time

(b) Your mezzanine was wiped out - due to a restructure - that means

(i) the Mortgage holders - have lower debt payments now

(ii) they were obligated to pay both bondholders and now only the SENIOR ones

(iii) They will need to pay less on the debt

Logically - unless there's a new tsunami - what will you do?

Die like Toxie?

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