[movermike] movermike: Luminent Receives Margin Calls.

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Posted by movermike:
Luminent Receives Margin Calls.
http://www.movermike.com/posts/1186519634.shtml


   [lum]

   Shares of Luminent (LUM)fell $3.64, or 83.1 percent, to 74 cents and
   closed at $1.08. LUM's shares had traded as high as $10.84 during the
   past year.

     [1]Luminent purchases mortgages by using money borrowed against
     lines of credit. When the issuers of those lines of credit feel the
     value of the assets backed by the lines decline, they can ask for
     more capital or pull the lines.

     Margin calls were the undoing of American Home Mortgage Investment
     Corp., a lender that filed for bankruptcy protection Monday.

   [2]Luminent (LUM) [3]Mortgages [4]Mover Mike

References

   1. http://biz.yahoo.com/ap/070807/luminent_liquidity.html?.v=1
   2. http://technorati.com/tag/Luminent+(LUM)
   3. http://technorati.com/tag/Mortgages
   4. http://technorati.com/tag/Mover+Mike