It all goes back to Buffet's comment about CDOs being financial weapons of mass destruction. No one can figure out CDOs and their intricacies - not even the few competent quants. Isn't that what BSC was? A vehicle to disseminate CDOs at the highest price possible to the greatest fools to all four corners of the world?
So, he goes on Bloomberg Wednesday, talks his book, and covers? I don't think even Einhorn is that daft. He's that much of a dirtbag, but the Feds are everywhere. He's too smart for that. It would open him up for destruction. Too many folks too touchy.
He won't cover all his position, he can claim he is short even with 100 shares. But LEH went up right after the news tells...
Good point, which is leading to calls to declare short postitions. Langone was on with Cavuto. He decried the regulation. He's right, but I'd ask him. If you're dealing with people who will steal everything not nailed down, what is the solution? I've had that conversation w/journalists. The hedgies and WS want all these privileges, but continue to act the rogues.
ROFLMOA Reardon it's not like you to be afraid of anyone, especially the SEC. I guess your getting older and wiser and picking your battles
What was that about the first ever quarterly loss, cdo writedowns (ABOUT TIME!!!) and capital raising? I think this dog will go the way of BSC. I always knew their earnings report last quarter was full of shit! Dow 11,000 by the end of the week!