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Brown Cafe UPS Forum
The Latest UPS Headlines
Retired UPS employee files $4M suit
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<blockquote data-quote="OptimusPrime" data-source="post: 839069" data-attributes="member: 35063"><p>Let me see if I have this straight. He used the stock he owned as collateral to get a loan to buy more stock? To the tune of 3.5 mil? mother was a riverboat gambler. Merril Lynch had to licking their chops. One would assume the individual was pretty wealthy already, so it was win/win. Stock goes up, he makes bank, but still pays ML back plus what I would assume hefty interest. Stock goes down, according to the contract he signed, they sell it off, get that money, plus he is on the hook for the loan still, so they can seize assets, etc.</p></blockquote><p></p>
[QUOTE="OptimusPrime, post: 839069, member: 35063"] Let me see if I have this straight. He used the stock he owned as collateral to get a loan to buy more stock? To the tune of 3.5 mil? mother was a riverboat gambler. Merril Lynch had to licking their chops. One would assume the individual was pretty wealthy already, so it was win/win. Stock goes up, he makes bank, but still pays ML back plus what I would assume hefty interest. Stock goes down, according to the contract he signed, they sell it off, get that money, plus he is on the hook for the loan still, so they can seize assets, etc. [/QUOTE]
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Retired UPS employee files $4M suit
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