I'd give nutmeg's left nut to talk to Dick Fuld one on one. I'd ask, "How do you like it? How do like knowing you're the target of destruction? You must know how powerful these guys are, or you wouldn't have crapped on all your pals. So, tell me? Why are you , and you're employees better than the people at Taser? Or at Overstock? Or at a thousand other companies? Were your miserable stinking profits worth all this?" He had an advantage a thousand other companies didn't have because of the PSLRA act. He didn't need to get discovery, which you can't get if you're a small company. But he could just go to his back office. This is sick. And it need s to stop. All these big macho guys can't make a profit unless they steal. I have a word for Dick, because it happens to all companies who call in the cops. They look at YOU, too! And they'll tell you so. You'd better be clean.
I thought this was interesting. Talking with folks about the UBS rights offering to shareholders at a huge discount, the Lehman thing where they sat with their shareholders...... There has to be some contrition here. It appears Fuld is signalling that either Wall St. or the Hedge Funds can survive, but not both. The Govt has to side with the Wall St. So, that pretty much sums that up. If Fuld has "proof', it's not going to be JPM did it, but XYzOFfshore partners or somesuch thing. That will help me on the naked short front becuse the Prime Brokers won't be able to be contrite with the Govt and still do this. However, It basically means the firms make no real money until the next Super Cycle Bull. The big margin stuff is structured, subprime, and Prime Brokerage.
at 2:17 pm Schwartz said, '''''''we couldn't keep up with the rumors. Before we could squash one, another would come out. There are laws against manipulation. I hope.................would be investigated." This is going to get really, really good.