June 9th, 2003, 9:25 am
Oh... and I think they fired a bunch of people... basically, if I understand correctly, TD Securities equity derivs division used to be Stafford Trading... who sold it to them for some hefty sum of money... then they found out that all they bought was a useless shell of nothing but air... so they had to write it off (or part of it or something), yeah, anyway, I don't know all the details, but I seems they totally got suckered into paying top-dollars for nothing... Put that together with them losing their ass on the credit side and one or two other billion dollar acquisitions that turned out to be hot air as well... you end up...with, well .... hot air....Regards. PS: I know from a couple of people on this forum thatI'm not alone with that opinion.... So the thing to do is, never be on the receiving side on a TDBank CDS... ever.
Last edited by
FDAXHunter on June 8th, 2003, 10:00 pm, edited 1 time in total.