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Look at it this way, if my credit ratings are inaccurate investors won't be interested in my products and in the long run, I'll be out of business. The risk-free rates have been set by me for a reason. They are relatively low because I'm not promising jackpot scale returns. Investors are to think of this as a way to supplement their income not to replace it. The CDOs have not been issued yet and they won't be for a long time. And the based assets aren't created out of nothing because they'll be based on series of loans VBC makes AND high quality in-game items like Mass Manipulation Generators and etc. I hope that answered a few question. (And i agree with " attempting to categorize any of your assets with financial terminology is laughable" but hey, I'm just an undergrad econ student so it doesn't really look like I'm gonna be dealing with real life bonds for at least about a year.)

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Yeah, Tam did tried to stop the collapse of the HBC. So please, do not point fingers at him. If there was an investor that actually cared about everyone in this server, it would be Tam. Furthermore, I would like to clarify and encapsulate a few key points about HBC before going away. 1) It closed because of RL reasons. When I began this game around May, I was feeling extremely blue and just wanted to get away from the reality. I'm not going to explain why I was blue and etc for the sake of privacy. As the months passed, however, I began to regain my confidence. This was when I realized that I've been engulfed by the virtual reality (This was probably when I first told Tam that I was thinking of shutting down HBC) and that I have definately bit more than I could chew by opening a bank with almost 70+million credits in total assets. The biggest mistake on my part was that when I first designed HBC, it was assumed to last forever. 2) ETF purchasers bought a 'derivative product', not a savings plan or deposit account. The best way to think about this is - and I say this with all due respect to those who lost their money through HBC - to look at your investment like shopping at a grocery shop. What HBC did was structure you a derivative product that was designed to perform in a very specific way under very specific conditions. Hence unlike the Plutus Fund, the ETFs did not come with redemption obligations - and a lot of investors were informed of this. I don't know if you recall but I remember asking people if they have read and fully understood what they were investing. I also remember plenty of potential investors who threw money at me only to have them refused by me because they haven't read the HBC forum. To support investor awareness, whenever I advertised on fleet, I almost always told you to check out the official thread for more information. 3) I'm sure this probably won't mitigate your anger towards me, if not amplify it, but I had more messed up ways of sinking HBC planned as an exit strategy (The most messed up part would have been that it would have been completely legal under my product descriptions and etc). But because I'm not psychologically challenged, I instead chose to come out forward with honesty and informed you of your financial loss. The third reason is why I can say to you all that Tam is an honest guy who truely cared about the server. One of my exit strategies before consulting with Tam was to set up another company just so that it can lend 100 million creds (Because remember, I had 100 mil+) to the HBC and once HBC wouldn't oblige the debt obligation, go bankrupt erasing both Plutus Fund and the ETF. <--- I never liked this idea because it was so messed up and made me feel uncomfortable at how screwed up my banking thing was going to be - this plan was some kind of mutated form of Leveraged Buyout (LBOs). Hence I scrap the plan but the point is, Tam was the only person who talked me out of it. So yes, Tam was entitled to more information than most of you because in all honesty, I wanted him on my side on this. I figured I could increase the ETF market at least trifold with him advertising for the HBC - Who wouldn't trust some computer genius that calculates DPS and game mechanics?. Obviously he refused. NOTE HERE that the ETFs weren't designed to blow up because at the time of its creation, I never intended on leaving the game. Also the ETFs were designed to create what economists call the 'positive network effect' where the more people held the shares more trading would take place and allow many parties to make money (Hence increasing the overall value of the ETF trading network). One of the key reasons why ETF were created, other than the no redemption obligations and etc, was so that I could try to create an ingame stock exchange (I don't know if you recall but I even offered a virtual product that's performance was linked to S&P 500 Stock Index). To conclude, you cannot say that I have ran with your money for five major reasons. 1) Greenspan was the CEO and Chairman of HBC (Not the actual HBC). 2) HBC is a limited liability company 3) I have stated EVERYTHING an investor needs to know on the FIRST POST of the main HBC thread 4) I tried my best to make sure people understood what they were getting into. And lastly for the ETF guys, 5) You BOUGHT a derivatives product not the actual underlying asset. And technically ETFs didn't become 0 creds in matter of seconds, it became 0 because it couldn't handle the liquidity shock (a.k.a no one wanted to buy it.). I hope that answers some skepticism about the closure of HBC.

No he knew me at the start because I asked him to invest in my bank - technically it was his friend but yeah.

Tam is not speaking about the HBC closure thing out of conceitedness or ego. He knew me from the beginning and he was once an investor of HBC. He has every right in the world to speculate and analyze what happened here.

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All liabilities have been paid however the derivatives market crashed.

Harbinger Banking Corporation is now closed.

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Ok could you send me an ingame mail when you're on?

ETF PRICE UPDATE: As of 21st August 2013, Plutus ETF#1 Price stands at 150k per share.