...and was hesitating to make my comments.

Just one observation: As we learned to know about the ARS last year, some great attacks were started by several posters here on the board, questioning the capabilities of Patriot's management. One of those, who vehemently and several times wrote against the BoD regarding this topic was our former shareholder representative, for example on April 13th of 2008:

"2. The grander point to the specific illiquidity of funds, is that the decision to invest in ARS's is symptomatic and representative of the poor judgment this BOD has exhibited time and time again."

Until today we learned a lot about the ARS-topic, especially that much bigger companies have bought into it, remember the article about Texas Instruments sueing Citigroup (?) for about half a billion some days ago.

Fact is: The "poor judgement" of our BoD was not more or less poor than hundreds or thousands other companies, which did the same - but it was only PTSC's BoD to blame.

I don't want to defend the company - in my opinion, Pohl, Turley and even RG played horrible games with the retail shareholders to put millions in someone else's pockets - but more and more it's looking like a pattern, occuring every quarter or half a year, that this board "explodes" and gets divided in two or more camps.

All IMHO - good night from Germany