Another Troubling 'Dear Investor' Letter: 'Best Blog' Follows LEND 50% Pratfall

| About: Accredited Home (LEND)

It's been an ugly few weeks for the recipients of ‘Dear Investor’—or, even worse, ‘Dear Client of Bear, Stearns & Co. Inc’ (NYSE:BSC) —letters. Sowood. Renaissance. Tykhe. For starters.

But spam, delivered Saturday morning from the Piltdown Meltdown Man himself, is unquestionably the most troubling of all:


[UPDATE Aug 11, 7:00 pm: Sorry, I didn’t realize how troubling it really was.]

Random musings: Remember, the Accredited Home Lenders ((LEND) - Cramer's Take - Stockpickr - Rating) deal will close unless the acquirer, Lone Star Funds, is insolvent. That’s how iron-clad that deal is. All the negative language that reporters quoted last week was included in the deal documents when it was first reported. Odd that it's just now getting focused on. I repeat, the language about insolvency was not new news. [Originally published Aug. 6 2007].

Jim Cramer's Best Blogs
8/11/2007 9:40 AM
If the item in question should mysteriously disappear, go to the .pdf here.

Regrettably, more than 12 hours before this (ahem) highlight was posted, LEND had, in after-hours trading Friday night, dropped 47.7 percent, giving up its 45 percent gain that day.