It is interesting that the First American Corporation should make news in Xinhua Province, China, http://news.xinhuanet.com/english/2007-11/02/content_6997622.htm Editor Gareth Dodd of Xinhuanet, www.chinaview.cn chose strong words to report on the fraudulent and scandalous behavior of First American Corporation that helped trigger the mortgage market international meltdown.
Is the Xinhua news attempting to warn the Chinese population about the high risk and low reward of doing business with First American?
Should Xinhuanet further investigate and expose First American? How long does it take for The First American Corporation to settle substantial claims on average? How much could an insured be forced to spend over the years in pursuit of justice? How often does First American win by default by driving legal costs out of the reach of the average claimant? Does that explain why The First American Corporation has only paid as little as 3% of its billion dollar revenues in claims?
Of further interest it is to be noted that AP Singapore reports that in a recent e-mail, Southeast Asia's largest bank instructed traders in an e-mail not to do business with Lehman Brothers. In a subsequent e-mail DBS Group Holdings Ltd. advised traders to review new transactions (with Lehman Brothers) case by case.
On a case by case basis, should officials from South East Asia’s largest bank be made aware that Frank McMahon was a past senior exec of Lehman before joining The First American Corporation and that Frank may well some day attempt to dump FAF (NYSE trading symbol for The First American Corporation) stock onto the Asian markets just as he did on European markets through Lehman London offices shortly before the stock imploded!
Is the Xinhua news attempting to warn the Chinese population about the high risk and low reward of doing business with First American?
Should Xinhuanet further investigate and expose First American? How long does it take for The First American Corporation to settle substantial claims on average? How much could an insured be forced to spend over the years in pursuit of justice? How often does First American win by default by driving legal costs out of the reach of the average claimant? Does that explain why The First American Corporation has only paid as little as 3% of its billion dollar revenues in claims?
Of further interest it is to be noted that AP Singapore reports that in a recent e-mail, Southeast Asia's largest bank instructed traders in an e-mail not to do business with Lehman Brothers. In a subsequent e-mail DBS Group Holdings Ltd. advised traders to review new transactions (with Lehman Brothers) case by case.
On a case by case basis, should officials from South East Asia’s largest bank be made aware that Frank McMahon was a past senior exec of Lehman before joining The First American Corporation and that Frank may well some day attempt to dump FAF (NYSE trading symbol for The First American Corporation) stock onto the Asian markets just as he did on European markets through Lehman London offices shortly before the stock imploded!
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