Bartender, buy these men some clues!

From the Las Vegas Review Journal, we have Tempers flare at USA Capital session.

Investors who bought short-term mortgage loans brokered by USA Capital are shouting mad and divided over the best strategy for recovering some of their assets.

USA Capital controlled $962 million in investor assets in April when it became insolvent and filed for Chapter 11 bankruptcy protection, which would allow it to reorganize. The company solicited money from investors to make short-term loans to developers in return for double-digit interest rates. About 6,000 investors around the country entrusted money to USA Capital.

Since the bankruptcy filing, "we have been brown mushrooms, kept in the dark and fed nothing," said investor Howard Connell, referring to the secrecy that has surrounded negotiations by investor committees. "We are having stuff shoved down our throats at the 11th hour. We should have the right to say something."

Connell said he would be "destitute within the next six months" because of losses at USA Capital.

What kind of retard puts all his money in one venture which may result in him being "destitute in the next six months"?

But, it gets better!

Doris Stevenson said she invested both in USA Capital loans and loans brokered by another failed private lender, Global Express Capital.

Stevenson suggested USA Capital investors may do relatively well compared to those who bought loans through Global Express. Stevenson said she had $170,000 invested with Global Express, has recovered $20,000 and is awaiting one last small payment three years after a federal judge put Global Express into receivership.

This is un-fucking-believable!

Read carefully, and you'll see that she "invested" $170K in a company that failed three years ago, and instead of learning from her mistake, went on to lose money in another company that failed in the same sector.

As I said, un-fucking-believable!

But, it's not over yet...

Bill Bullard, Direct Lender Committee chairman and investment chief for the private investment company of Fertitta Enterprises, recommended investors vote for the reorganization plan. But Morris Mansell, an investor with the Lender Protection Group, opposed the plan for several reasons.

Mansell said investors whose money was stolen should be repaid before lawyers get paid.

Umm, yes, those lawyers are going to work for free (and for a bankrupt company at that!)

Yessir, that's definitely going to fly!