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It was reported this morning. http://www.reuters.com/article/bondsNews/idUSN1553342920081216 "In New York, the nonprofit Philoctetes Center for the Multidisciplinary Study of the Imagination lost all of its funding, its co-director Francis Levy told Reuters. The group, which focuses on...

The Philoctetes Center, which produced the video of the event where Bernie is shown talking about his integrity and the impossibilty of fraud (http://philoctetes.org/Home/), has announced that they have been financially ruined by his lack of integrity and the fraud he perpetrated.

I logged on earlier today and am watching it now. Madoff makes many comments about his honesty and integrity that now look very outrageous and deplorable. I know of no way for me to save this once I am finished with it. The YouTube user in whose account the video was located is...

Here's another view.

If GS as a bank is now going to be required to delever from roughly 40:1 down to 10:1, then it would seem that their earnings are going to substantially decline. Until they report earnings as a fully delevered new entity how can you possibly know what you are paying for them on a P/E bais...

Thanks to all. I've been holding short positions in both ABK and MBI for awhile, some expire today and some in Feb. I was looking for additional dominos to fall should the government not take them over and they collapse. I did see where C and MER are the current odds on favorites of the...

Which IB's, reinsurers, or others have the most exposure?

Thanks alot Bandit, I didn't know that either, but it makes sense. I really appreciate it.

Ok, thank you. Buying puts to open, which would require selling to close, would not be a wise trade in this situation then.

Thank you for that. I have never shorted the underlying and didn't know if an unwind of some sort was required. However, if I was short the options and the underlying suddenly went to zero, would an exit exist?

That was precisely my response when I read that article yesterday. Pure insanity.

It looks to me as a noob (not even that, really, more like a fetus) that shorting some of these homebuilders and monoline insurers has reached a point of diminishing returns, beyond which only outright bankruptcy will drive them materially lower. It seems to this schlump that this would...

I did not know he had authored a book. Just ordered it. Thanks Joab.