Agreed. All the banks do this and tell us that all of the writeoffs are done. They can veil it in crap like, "oh, uh we marked it to market and this is the value." Same shit as LTCM. Go try and unload that shit somewhere and that mark is not really the mark. That LEH conference call on Monday was riddled with that language and some dude who kept saying, "That's fair enough." hahahahahahahahahahaahahhahahahaaha*2
wonder why CNBC doesn't have content monitors? wonder why they keep letting themselves be used like that? strange?
Keep shorting and keep making money while these douchebags keep lying to investors. Fucke em all it's about time they lost. Laughing my way to the bank (pun intended_
3/27 11:23 LEH LEHMAN SPOKESWOMAN: "WE ARE SUSPICIOUS THAT THE RUMORS ARE BEING PROMULGATED BY SHORT SELLERS OF OUR STOCK" -- Reuters (41.13 -1.37) -Update- Second. Hank Greenberg taking a position. Blackstone participating in the rights offering. Lehman pushed Subprime on Florida, and I have no sympathy for them. But this move down is just too trite. And then, you 've got Einhorn in here. You don't know if he's covering into this, and leaving everybody else hanging. I see no reason for the stock to go up, but Blackstone, Greenberg, the unaddressed manipulation claims......... Not for me.
Makes you wonder how short sellers were able to knock this dog down from 82 to 24 within just a couple of months if it were pure rumor spreading and 'manipulation'. If there's nothing to it, why don't some of big value mutual funds not simply lift all the offers and squeeze out the shorts? P.S. Merrill cuts Lehman rating a week after upgrade - Reuters (Wed 3:13pm) LMAO!
The mutual funds suspected Einhorn was right and that LEH never came forward publicly to challenge Einhorn...if he was wrong they could have broken him, but they knew he was right and the "game" was up. LEH will never have any creditabilty while they have their senior management there.....they are toast. BTW, Einhorn never told anybody to short LEH and, therefore, everyone is responsible for their own actions...my bet is Einhorn won't cover for anything lower than 15.00...leaving a little for the next man...fait accompli Then the other financial institions better duck for cover if they have been playing "silly numbers"...
So, what was the purpose of Einhorn coming on TV? For giving speeches after he was short? What was wrong, was wrong. I could figure that out. But why does he come out and work the position. He's going to step on his dick with this stuff. All he had to do was short, and wait. And, what if he was wrong? He worked way too hard for someone convinced of his position.