Silence

More market-destabilising news from a subprime lender. Fremont General Corp, one of the largest U.S. mortgage lenders for people with poor credit histories, said on Tuesday it will delay releasing fourth-quarter results. Furthermore, the company will not file its 2006 annual report by the March 1 deadline.

So why the delay? The company wouldn’t say. However, investors weren’t too happy with the lack of disclosure. Shares of Fremont sank 18 percent to their lowest level since May 2003.

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