Wall Street HB Analysts Criminal???
Why are Wall Street Housing Analysts blatently deceiving manipulating projections? Why is the SEC or other regulatory body not stepping in and addressing this nonsense?
This is a very important issue and the future of our nation is at issue. Wall Street behavior can and will have a profound impact on our lives. INTEGRITY, AT LEAST TO A MINIMUM STANDARD, IS IMPERITIVE IF OUR ECONOMY IS TO FUNCTION.
Three top officials at the country's largest pension fund resigned this week. Why? My guess is that in the next few weeks were are going to be hearing about billions in losses from bad Real Estate investments. It may be that CA teachers may not have as much coming to them in their retirement as they once thought. You think that has an impact on a lot of people?
We KNOW that RYL's next quarter revenues CANNOT meet current analyst revenue projections. The analysts know the same as well because RYL's backlog and specs can't justify such projections. But the projections persist, and some have even raised guidance for 2008!!! Why???
Go listen to today's MTH conference call. The analysts are almost coaching management what to say? It's truly unbelievable if it weren't true.
What is motivating this behavior of intentional unjustifiable deception? Why is no one stepping up(except for maybe FloridaBuilder) and saying something? Is Wall Street about to fleece America out of its money?
Calpers sure got a nice wholloping.
CTX reports soon.