24/7 Wall St.
04-21-2008, 07:10 AM
24/7 Wall St. Daily News
NCC (NCC) was one of those banks that decided the mortgage business was simply an outstanding way to make money. The price of homes and commercial buildings would rise at 10% per annum forever, It was a sure fire way to mint money. None of that worked out, so NCC is raising over $6 billion from a group lead by private equity firm Corsair Capital LLC. The price of the shares they will buy is well below market. According to The Wall Street Journal "The plan calls for the investors to pay about $5 a share." The stock closed at... http://feeds.feedburner.com/~f/typepad/RyNm?i=Q1sOCNG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Q1sOCNG) http://feeds.feedburner.com/~f/typepad/RyNm?i=jutaiSG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=jutaiSG) http://feeds.feedburner.com/~f/typepad/RyNm?i=vg1rutg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=vg1rutg)
complete story here... (http://www.247wallst.com/2008/04/as-ncc-ncc-rais.html)
NCC (NCC) was one of those banks that decided the mortgage business was simply an outstanding way to make money. The price of homes and commercial buildings would rise at 10% per annum forever, It was a sure fire way to mint money. None of that worked out, so NCC is raising over $6 billion from a group lead by private equity firm Corsair Capital LLC. The price of the shares they will buy is well below market. According to The Wall Street Journal "The plan calls for the investors to pay about $5 a share." The stock closed at... http://feeds.feedburner.com/~f/typepad/RyNm?i=Q1sOCNG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Q1sOCNG) http://feeds.feedburner.com/~f/typepad/RyNm?i=jutaiSG</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=jutaiSG) http://feeds.feedburner.com/~f/typepad/RyNm?i=vg1rutg</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=vg1rutg)
complete story here... (http://www.247wallst.com/2008/04/as-ncc-ncc-rais.html)