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Did Credit Suisse hold a gun to their heads or something?<br>
<br>
If a loan is more than you can repay, don't take out the loan. If
you do take out the loan and you can't repay it, then you can't
exactly blame the bank. Business owners should be doing due
diligence on these loans. If they were somehow sweet-talked into
raising the amount past what they could expect to repay, then they
should take full responsibility for the effects of defaulting on the
loans.<br>
<br>
Imagine what would happen if every business that took out a loan
from the bank could sue the bank in court (with some expectation of
winning the suit) if they couldn't make their payments.<br>
<br>
Paul<br>
<br>
P.S. Removed the long list of CCs on your email. They can
subscribe to the list if they are interested in responses, don't you
think?<br>
<br>
<br>
On 01/11/2012 04:38 PM, Tom Hansen wrote:
<blockquote
cite="mid:24092ABA-8741-48C4-A6B2-B2A532359835@moscow.com"
type="cite">
<div>Why doesn't Tim Blixseth simply knock on Butch Otter's door?
I'm sure the Guv would be more than happy to oblige him.</div>
<div><br>
</div>
<div>Courtesy of KHQ at:</div>
<div><br>
</div>
<a moz-do-not-send="true"
href="http://www.khq.com/story/16499438/credit-suisse-in-court-to-defend-loans-to-resorts">http://www.khq.com/story/16499438/credit-suisse-in-court-to-defend-loans-to-resorts</a>
<div>
<div> </div>
<div>------------------------------</div>
<div><br>
</div>
<div>
<div id="WNStoryHeader" style="margin-bottom: 13px;
font-family: arial,verdana,sans-serif; font-size: 12px;">
<h3 class="" style="display: block; padding: 0px; margin:
0px 0px 10px; clear: both; font-size: 1.5em; font-weight:
bold;">Credit Suisse in court to defend loans to resort</h3>
<h3 class="" style="display: block; padding: 0px; margin:
0px 0px 10px; clear: both; font-size: 1.5em; font-weight:
bold;"><span class="Apple-style-span" style="font-weight:
normal; font-size: 15px;"><em class="wnDate"
style="display: inline ! important; padding: 0px;
margin: 0px 0px 8px; clear: both; line-height: 0.5em;"><span
class="Apple-style-span" style="font-style: normal;
line-height: normal;"><em class="wnDate"
style="display: inline ! important; padding: 0px;
margin: 0px 0px 8px; clear: both; line-height:
0.5em;"><span class="Apple-style-span"
style="font-style: normal; line-height: normal;">By
MATTHEW BROWN</span></em></span></em></span><br>
</h3>
</div>
<span class="Apple-style-span" style="font-family:
arial,verdana,sans-serif; font-size: 12px;">
<div id="WNStoryBody" class="" style="font-size: 1.1em;
margin-bottom: 15px; display: inline;">Associated Press
<p style="margin: 12px 0px; padding: 0px;">BILLINGS,
Montana (AP) - Attorneys for Credit Suisse are due in
court Thursday to defend accusations that the banking
giant arranged hundreds of millions of dollars in
predatory loans with the goal of taking over luxury
resorts in Montana, Idaho, Nevada and the Bahamas.</p>
<p style="margin: 12px 0px; padding: 0px;">Plaintiffs
backed by Yellowstone Club founder Tim Blixseth want $8
billion in damages. They claim Credit Suisse conspired
to loan the resorts more than they could repay and then
foreclose on them.</p>
<p style="margin: 12px 0px; padding: 0px;">The other
properties were Idaho's Tamarack Resort, Nevada's Lake
Las Vegas and Ginn Sur Mer in the Bahamas.</p>
<p style="margin: 12px 0px; padding: 0px;">Credit Suisse
says the lawsuit is without merit and motivated by
Blixseth's desire to divert attention from the
Yellowstone Club's problems. Thursday's hearing is in
U.S. District Court in Boise, Idaho.</p>
<p style="margin: 12px 0px; padding: 0px;">Real estate
firm Cushman & Wakefield also is a defendant.</p>
</div>
</span><span class="Apple-style-span" style="">------------------------------</span></div>
<div><span class="Apple-style-span" style=""> <br>
</span>
<div>Seeya later, Moscow.</div>
<div><br>
</div>
<div>Tom Hansen</div>
<div>Spokane, Washington</div>
<div><br>
</div>
<div>"If not us, who?</div>
<div>If not now, when?"</div>
<div><br>
</div>
<div>- Unknown</div>
</div>
</div>
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