Post
Topic
Board Service Discussion
Re: Why I trust Patrick Harnett
by
JoelKatz
on 12/09/2012, 22:00:41 UTC
mostly agree, although it would be good to know who defaulted and for how much. If you are going to pass losses on to investors, its only fair they know (and can verify) who they owe the loss to.
I agree. If losses are being passed on, then the depositors deserve a full statement of total obligations, total assets, the form of those assets, and any defaults that are being passed on. This serves two important purposes. First, it lets depositors know what they can reasonably expect. Second, it reassures depositors that they are not being scammed and in fact suffered legitimate losses.