How long until Steve Schwartzman buys this thing just so he can have the pleasure of firing Dick Fuld personally?
a silly question but what was that short restrictions of financials was about a month ago? can you really short LEH?
itstoohot Wrote: ------------------------------------------------------- > a silly question but what was that short > restrictions of financials was about a month ago? > can you really short LEH? Yes, as long as you do not naked short… this is an old rule that has now just been “enacted” Does not apply to you or me, we would not be able to naked short before or now, anyhow…
to people that dont know how this works: prior to the rule (which has been enacted a while ago): -dealer can short without owning the stock. the reasoning behind it is that he should know where he can get it, if need be. so in actuality there can be, at any one time, more shares trading than there are outstanding. you get into this area of phantom shares and dividends. now, after the rule, you actually have to pledge the shares for the short. so basically, a rule was past that has been on the books for a while, just ignored… when it suits you, change the rules…
thx…what i heard on some blogs was the brokers even weren’t lending (or willing to lend) you the shares to short. again i might be wrong on this too
yep, they dont have to lend it to you - “shares unavailable” is the usual line…
ok got it:)
As it was expected, LEH will release its results tomorrow morning, a week ahead of schedule
The pimpster is still employed with LEH. Unfortunately, I don’t think LEH will be around after next week. Die Fuld die!
good work pimpester, sounded like you where speaking German for a second there ‘Die fuld die’ !
Fuld is entrneched and it still amazes me there was no MBO of this shop when the stock was in the 20s, 30s, 40s.