I got no call back from the SEC, no letter, no follow up at all. The only response was a letter from the state regulator via snail mail asking me to fill out a form. I also offered to help get him on the record at my scheduled follow up meeting. I included all of his contact information, documents he sent, aliases, and information I found about him on the web (he's been swindling people for a long time!). I decided I'd also fill out their online whistleblower reporting form, and then also filled out a form with the state securities regulator, and sent an email to FINRA.
I hung up with him and immediately called the SEC - the guy on the phone thought it sounded like an urgent matter and forwarded me to a ladies voicemail and I left a message. It was an oil & gas play called the Warner project and I knew in the first 10 seconds it was a scam but feigned interest and collected as much data as I could and scheduled a follow-up call a week later with him and requested an email with more information. There are multiple articles in the WSJ today about the SEC cracking down on perpetrators of the Great Recession and digging into Hedge Fund data to find fraud (call me cynical, but the very fact the funds in question filed documents with the SEC in the first place would lead me to believe that they would not intentionally file fraudulent documents that were obvious frauds in the first place - seems like a pretty bad starting place), which makes it ironic that I got an email from a guy named Alex Barta today.Īlex Barta called me a month ago offering me a once in a lifetime investment opportunity with 1200% annualized yields in the first month and all he needed was $5,000. Note: Two stores in Kansas City, MO (Metro North) and Scottsdale, AZ (Shea) permanently closed in February 2012. * indicates stores notified Maof closure plans The Matteson store highlighted below is in BSCMS 2002-TOP6 as Best Buy Portfolio - Matteson IL (II) and actually paid of 6 months ago (but I listed it here just so we can all ponder on the horrible timing of that decision), and the West Dundee store listed below is in MLCFC 2006-3 as Best Buy West Dundee.
Cre 8900 review update#
I'm sure some analyst who is actually getting paid to do research like this will post an update some day this week, but in the meantime please check out my advertisers! I may be off, because I am not attempting to do a thorough and complete job here, but I did for all loans named Best Buy that had matches on the city name from the list provided by Best Buy - then I further filtered the list by visually checking the street names. I haven't spoken to anyone, just saw the messages flying around.įollowing their initial announcement on 3/30, Best Buy posted a closure list, and surprisingly I only found 1 of the outstanding loans in CMBS deals. What is this MAX deal they're coming out with - it looks like BAML is basically trying issue a new deal to buy the two MAX CDOs from the Fed, structuring it, and charging a flat 0.25bps to investors to give them an opportunity to participate since the bidding list is limited. And both of these strategies seem to put the CDOs far from any near-term scenario that would result in a flood of pure CMBS collateral on the streets. No one can blow up the original CDOs without consent of the MAX junior bondholders (purportedly DB) or paying off an interest rate swap to Barclays according to this one article.
Cre 8900 review pro#
The competing bidding group appears to be Citi/Goldman's Sack/CS, and they are also soliciting bids from their clients that will effectively be passed through as a bid on the two MAX CDO tranches (and passed back in pro rata amounts if they get oversold), but they are not re-securitizing anything.īoth parties are charging a 0.25 mark up for their strategy. They'll roll up the bids on their "new issue" to make a pass-through bid to the Fed. They're basically using the Barclays proposed structure (It's joint between BARC, BAML, and NOM nom nom) to form MAXX 2012-MAX to CDO^2 to retranche the risk in the two current MAX A1 tranches for sale.