Heads up on LEH!

Quote from Port1385:

I have read a few articles where Warren Buffet has stated that the balance sheets of these investment banks are complicated and many of them have hidden things deep inside. Warren's team couldnt value some of these banks because it was that bad.
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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?
 
Quote from codedeep007:

Sources say that David Einhorn (Greenlight Capital) has covered LEH short position starting from last Friday.

Financial assets are always measured against interest, LEH would have to write down if interest is above 5%, but the interests are down to 2%.

Should LEH issue a markup instead of write down?
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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.
 
Quote from codedeep007:

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...
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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.
 
Quote from Rearden Metal:



Hint: We've seen this in pattern in a stock containing the name of an animal that may or may not shit in the woods.
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ROFLMOA

Reardon it's not like you to be afraid of anyone, especially the SEC. :D

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!
 
Quote from Alex_in_Oz:

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!
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damn. i only have one put vertical spread left ... Sold 2 of them today.
 
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