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Thornburg Mortgage Plunges 59% to $4.32 on Bankruptcy Worry
This Link is located in the Public Channel Housing Bubble and Bear Links.
 Posted by ian 2 years 12 days ago (nytimes.com).  Views: 16
Tags: thornburg  wall street  housing bubble
Related Tags: finance  stocks  economics  business  video  forbes  bailout  peter schiff  
Thornburg Mortgage Inc said on Monday it has failed to meet a surge in margin calls, raising concern the jumbo mortgage lender might file for bankruptcy and causing its shares to fall by more than half.

Thornburg said it has faced $270 million of margin calls since Feb 27, on top of more than $300 million in the prior two weeks.

The company said it was able to meet the earlier calls but could not meet a "substantial majority" of the new calls because of "limited available liquidity." Margin calls force borrowers to pay back loans or post more collateral.

Shares of Thornburg fell $5.26, or 59 percent, to $3.64 in afternoon trading on the New York Stock Exchange.

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ian said
2 years 12 days ago
 
Cramer 38 days ago: "Toll and Thornburg Stand to Win"

http://www.myprops.org/content/Cramer-Toll-and-Thornburg-Stand-to-Win/
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Housing Bubble and Bear Links (1,485 Links)
Created by ian 2 years 341 days ago in Finance. Views: 12,603. Link Views: 417,048
Tags: housing bubble  investing  real estate  subprime  mortgage  finance  economics
Related Tags: wall street  stocks  business  video  politics  infesting  economy  financial  
This channel was created on April 10, 2007, during the peak of the housing mania, to warn investors of the coming collapse in home prices. For quite some time we have warned investors to get out of U.S. stocks. This channel represents the best of the [More...]

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