The Real Estate Investment Trust - Nova Star Financial

Mark Cajodas: Nova Star Financial was a real estate investment trust which is a special structure in the states. They produced fake non-cash earnings and had to pay out cash for a dividend so what they ended up doing which I never saw coming. The dollar in earnings that they were reporting when things were steady state they were paying out 75 cents turned into $9 of earnings - completely an accounting creation. But not only was the stock going up we were having a covered dividend stock loan fee off completely fake numbers. So it was like steroids on top of heroin on top of acid with a fentanyl chaser as you're drinking rum punch smoke in marijuana. I mean a true scheme.