Wasn't it Gordon Lightfoot who sang something about being "In a room where ya do what ya dont confess..." Why do I think of H&R Block and other subprime lenders concocting their 8-Ks when I hear those lyrics?
H&R (http://biz.yahoo.com/e/070419/hrb8-k.html) tonight says it sees a 2007 loss due to its Option One subprime business: H&R Block charge for Option One to bring '07 loss. What a surprise and I still can't help but to wonder what's not being confessed.
And naturally, the stock is up a bit this evening!
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