Sounds like his investors got lucky. If they'd have bought Fannie Mae or Freddy Mac, they'd have actually been invested in buying and selling mortgages and would have lost almost all their investment. This way, when they sell the cars and RVs and houses the guy actually bought, the investors will get some of their money back. Lucky day!
This is a very, very big deal around here. Just thought my friends at fr would have some good insights. Read the Blogs at The hickory daily record, or google “topix claremont NC”