By Xavier Mohr, CEO
SLReports.net

In what was a heated gathering at Midas Bank headquarters today, bank CEO Midas Commons admitted that the institution was currently "in limbo," as the World Stock Exchange (WSE) had defaulted on a scheduled payment of the Hope Capital Bond (WSE: HCB) which represents about L$650,000 of income for the esteemed financial institution.

Commons reported that Midas Bank had upwards of L$3.5 million invested in the HCB, and would rely on the bond payment to fund the depositor's reserve.

Ancapistan Capital Exchange (AnCapEx) Chairman IntLibber Brautigan agreed with a statement by Midas Commons in which a boycott of the WSE was proposed until it made good on its bond payment.

"LukeConell is not a fraud or theft master," said Smithers Daviau, a representative of the WSE present at today's gathering. Aside from statements and excuses from Smithers and one other WSE employee, however, regard for Second Life's oldest and arguably most opaque securities exchange was not so positive.

Commons further reported that the bank currently had around L$8 million on deposit, and a total loss of value in its HCB holdings would represent a loss of about L$5 million – and unavoidable bankruptcy for the financial institution.

In attendance at today's Midas Bank gathering were Second Life financial figureheads such as Arbitrage Wise, IntLibber Brautigan, JP Strauss, Reina Ferraris, and numerous Midas accountholders.

Stay tuned to SLReports.net for more information.