here's what einhorn said about leh.
http://mrmortgage.ml-implode.com/wp.../05/david-einhorn-ira-sohn-speech-5-21-08.pdf
http://mrmortgage.ml-implode.com/wp.../05/david-einhorn-ira-sohn-speech-5-21-08.pdf
Quote from flytiger:
There were really tough rumors out of Europe. I haven't seen them in print, but they were in internal notes of at least one major firm. Einhorn gives a lecture in front of 1000 people. He obviously is short to where he needs to be. THEN, HE MAKES THE REPORTERS SIGN THAT THEY WON'T RELEASE A STORY UNTIL NOON THE NEXT DAY!!!! That gives his 'peers' two and a half hours to crawl all over LEH.
I have no sympathy for LEH, or GS, or any of them. In my mind, it is their quest for all the wealth that has killed the Capital Markets. But these tactics were what Amir Elgindy did. Where does it stop. Can I call your wives and tel them you're screwing around just because I think it, or I don't like it? Then, can I call the local paper and put it in there?
These punks are running rampant. CNBC is helping them, and it is about all to come crashing down. The SEC won't do it. The self regs won't.
See the arrests yesterday? I heard it is the "tip of the iceberg". Can't wait. May start drinking again just to celebrate. then, maybe talent and ethics will have a chance.
Fucking punks.
Quote from wilburbear:
I heard some of those rumors out of Europe concerning LEH. THEY ARE NOT TO BE REPEATED, AT ANY COST! THE FINANCIAL AUTHORITIES (SEC, etc.), WILL NOT ALLOW THIS VULNERABLE PORTRAYAL OF LEH'S PROBLEMS. SO DON'T EVEN TRY IT!
Couldn't agree more. Felt badly for Einhorn, she certainly had a huge bug up her ass.Quote from Diamond Geezer:
And regarding Einhorn on CNBC, did you see Bartiromo? OMG is she on the Lehman payroll?
She was combative as hell against Einhorn and pretty much calling him a liar on his assertion of the dollar amount of CDO's on Lehman's books. She had no facts, numbers or detail as always. Einhorn was very professional and had his ducks in a row.
Einhorn has been down this path before with Allied Capital and he knows his s***. I'm half way through his new book.
Bartiromo was trying to skewer Einhorn for ratings points but came across as a complete buffoon.
The woman has no humility, a real embarassment to the industry.
Quote from wilburbear:
You guys better knock it off.
http://www.huffingtonpost.com/2008/03/28/sec-investigating-trading_n_93998.html