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AMEN
Cardinal Funding Group, Inc.
James Durbin
4211 Springbourne Way
#105
Louisville, KY 40241
 502-425-2312  502-387-2055
-------Original Message-------
Date: 12/08/04 11:45:11
Subject: Re: [RealEstate] Digest Number 2045
Sadly... asking a Bank to issue anyone a LOC and believing that it might happen are two red flags signs that the person making the post has no earthly idea about how the banking system works whatsoever.......
Banks do not issue LOC's....have you heard of arbitrage ??? go look it up
Banks do not solicit to so called collateral providers.... what you have is someone who wants an LOC from a Bank so they could go shop it and then secure a BG to cover the loan...BUT the chicken and egg scenario does not work....Banks do not do it....show the BG and they will loan you what ever you want against it....sadly they do not own the BG...they need the LOC to have it issued and they think some bank will issue it....
You need to not send out every so called deal that comes accross your desk and think it is legit because they have some big words in it...the following statements are ridiculous...."Our source also has deep and legitimate relationships with persons associated with the US Treasury, The Fed Reserve and many European countries. This source is currently assisting our firm with projects totaling several billion dollars."
Funny with all this BILLIONS in play you guys do not even have a bank who will issue you guys an LOC ??????? so you go on a Yahoo group looking for the missing piece ?????? This is broker garbage at the highest level...I just get sickened when I see this junk being posted as new members might unknowingly think this is a real deal/opportunity.....
Fact: if you have an LOC from a top bank...why would you need these guys ? for what ? you could get a BG issued to you from any bank of your choice...word to the wise...anyone saying "I can get you a BG if you get me a LOC from a bank" is the sign of someone who has NO idea at all about how the real banking system works.....99% of these people cannot even answer a simple question on their own post if you did talk to them as all they are doing is posting another brokers bs and thinking they will get paid on it somehow.....REAL COLLATERAL PROVIDERS do not need an LOC and are not on the net looking for LOC 's which will never come....word to the wise.....do your homework before making posts that are bogus.....
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