Charlie Gasparino reports that the SEC is meeting right now to determine if “further steps must be taken to curtail improper short selling that is causing damage to the share prices of Morgan Stanley and Goldman Sachs,” after receiving calls from John Mack and Lloyd Blankfein. Senators Chuck Schumer and Hillary Clinton apparently put their two cents in as well.
— Advertisement —
Comments (80)
Leave a comment
You can log in with your account or comment as a guest below.
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Live by sword, die by the sword. Boohoo!
Reds to the left. Reds to the right. “We are all communists.”-James Cramer.
Well why not go the russia or pakistain route?
Problem solved!
Once they liquidate AIG/Lehman’s level 3′s we’ll see an assload (bigger than the ones Andy Dick takes!) of write downs. Can anyone say 15 cents on the dollar? Wachovia will fall next, 126 billion Alt-A’s
This market is freaking awesome for trading. Freaking awesome.
Too short, didn’t read it.
@4
For these things to be $0.15/$ if held to maturity default rates would have to be massive, far as I know most are still in the mid-to-high single digits on the worst crap. Lets hope it doesn’t get to that point, eh?
I hear that the GoldGan SachsLey bonus equals $364.50/week (after taxes) for both analyst and associates.
I’m sure they’ll do the right thing.
All Chris Cox has to do is listen to what Hillary says, then do the opposite.
@9 lol
it’s not that bad really so far. at the mo the stocks I’m watching are down but not to compelling levels. leverage is getting clobbered true, but not massive capitulation yet. not even GMO calls have started.
@5 It has been fun lately
Once they liquidate AIG/Lehman’s level 3′s we’ll see an assload (bigger than the ones Andy Dick takes!) of write downs. Can anyone say 15 cents on the dollar? Wachovia will fall next, 126 billion Alt-A’s
@12 totally
What goes around comes around, baby…..
Indeed you have lived by The Sword, and you shall die by The Sword Mr. Mack & Blankfein!!!!!
Signed,
Mrs. Main Street (not even in the business, trying to live on the hope that my lousy 401K you fuckers are destroying will get me through retirement)
I heard goldman was short $300bn of frozen orange juice futures and were caught the wrong way when ike knocked out power to refrigerated storage facility in Houston where GS was holding the underlying for delivery this friday.
GS must merge with MinuteMaid in order to survive.
@16
I heard the same rumor. It must be true then.
@15
finance.yahoo.com please
@ 16 & 17 – Goldman was long soy, made a bundle then, got greedy. Lost it all.
Sincerely,
Martin Prince
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to quality
flight to qualityflight to quality
flight to quality
flight to quality
flight to quality
flight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to qualityflight to quality
I wonder if Larry Kudlow thinks today was a great day for the stock market,,,,he was totally incorrect in his prediction last night…
how is he gonna spin today? buying opportunity?
I prefer Morman Stachs.
Mayo.
@20
Bart Simpson, go back to do your homework, bastard.
@15…go give a handj to Chucky Schwab…
I wonder how many GS/MS employees with significant equity stakes are hedging with puts.
Larry Kudlow has been wrong the entire time…for months. He isn’t a glass-half-full kind of guy, he’s a the-cup-is-overflowing when there’s actually nothing in it kind of guy. He’s worse than Cramer.
25 I would say none. Since the firms monitor such things.
Too long, didn’t read.
WaMu will fail…
SPODE
WOW -
Anyone see Timothy Sykes recommendations post today? I’ll just quote one sentence
“last night’s AIG bailout means the market opens up big”
I love that guy.
I’m tired.
Spode is right? I think more a CFC kind of failure – scooped up right before they face plant into the cement.
“Dude you threw out a ringer for a ringer.”
WM puts itself up for auction -
@29 – WAMU then WB!!!
Just reported on CNBC: WaMu soliciting bids
@26 – Totally agree. I don’t know how Kudlow keeps his job. He must have pictures or videotape.
And Chuck and Hillary both put their 2 cents in? Great – only $19,999,999,999.96
to go!
Wamu gone.
Washington Mutual Begins Auction to Sell Itself
September 17, 2008, 3:58 pm Link to This E-mail this Topics Mergers & AcquisitionsIndustries Financial ServicesWashington Mutual, the struggling savings and loan, has put itself up for auction, people briefed on the matter said Wednesday.
The unsurprising announcement comes as the bank, which has suffered badly from losses on mortgages it had made, continues to stumble. Shares in Washington Mutual fell nearly 10 percent on Wednesday to $2.09; they have plunged 94 percent over the last 12 months. This week alone, investors have been frightened by Standard & Poor’s cutting of the bank’s debt rating to junk.
Goldman Sachs, which Washington Mutual has hired, started the auction several days ago, these people said. Among the potential bidders that Goldman has talked to are Wells Fargo, JPMorgan Chase and HSBC.
TPG, the private equity firm that led a $7 billion cash injection into Washington Mutual in April, said Wednesday afternoon that it would waive its right to be compensated if the bank sold more shares to raise capital. “Our goal is to maximize the bank’s flexibility in this difficult market environment,” TPG said in a statement.
The April deal gave the investing group roughly 822 million new shares, diluting existing shareholders by nearly 50 percent. TPG bought shares for roughly $8.75 each. Those shares have since fallen to $2.14 a share, meaning that the value of the investor group’s holdings at Tuesday’s close had declined 75.5 percent.
While the bank has a strong deposit base, the uncertainty of the markets and the increasingly poor housing market have increased concerns about Washington Mutual’s outlook. The bank plunged into the option adjustable rate mortgage business.
Larryt Kudlow must have been read a drastically different “Goldilocks” story than I did………..I would hate to know what the bears did to poor Goldilocks in his rendition.
your state will soon be like north korea.
Morgan must merge with Wachovia in order to survive!
Morgovia!
>> I prefer Morman Stachs.
Why not Golden Morons ?
They name is Hubris….
And it was written that they burned in Hell
I listen to Kudlow for financial advice too! Kudlow & Cramer! I think they had a show together! They make me SOOOO MUCH MOOLLLA!! WEEEEEE!!!
so what does SPODE stand for anyway?
@24 LOL
@15 “Go talk to Chuck” we don’t want to hear about it.
From NYT: Morgan Stanley Gets Call from Wachovia Expressing Interest
Kudlow is senile
Citi interested in acquiring WaMu. Seriously. Really Vikky
Ouch Waaaaa Mooooo!
Next “bailout” is for FDIC.
I wish Kudlow was in Paulson’s place – he’d know what to do.
I listen to Kudlow for financial advice too! Kudlow & Cramer! I think they had a show together! They make me SOOOO MUCH MOOLLLA!! WEEEEEE!!!
Gold had a huge day today — skyrocketing more than $90 an ounce. Own physical, boys. I promise you my girl, gold she won’t disappoint.
Wayne Angell the former fed governor last night told Larry “Don’t worry! The Fed has an endless balance sheet! It can’t just print money!” and he said it with all seriousness.
To Larry Kudlow….Would you please kill that #ucking Godilocks. She has #ucked up everything.
Kudlow is the eternal optimist because he worships at the shrine of Ronald Reagan. As long as R’s are in power, the world could be nothing but great. The only thing stopping us from more greatness is those D’s, who would regulate and tax us to death. He totally ignores the toxic impact of triple defecits and the explosion of consumer debt, both of which were hatched under his god Reagan.
MS and WB consider merger
MS and WB consider merger
To Larry Kudlow….I am sick of this Goldilocks economy. Would you please kill that #ucking @itch. She has #ucked up everything.
bess is a nutcase magnet.
CAN SOMEONE PLEASE GET ON MS/WACHOVIA?
TANK YOU.
TANKS.
@55 don’t know about Reagan being god, but pretty much everyhting else you said is spot on.
@50 Kudlow would turn AIG into an offshore oil rig.
@44
#29 You want to take this one? HAHAHA
SPODE
i see the yin/yang of db.
carney is the yang. bess is the yin.
spodey, spode spode
what does it mean? i’ll keep asking too
it’s some kind of china right?
@ 61 – just to clarify, 55 says Reagan is Kudlow’s god (which is true).
Chucky Schumer? The destroyer of banks, the ultimate purveyor (sp?) of rumors is concerned about short selling?
What is going on in this world?
Just in: British Bank Lloyds Agrees to Take Over HBOS
please, i ask for so little here..
spode…
is it…super penis of da earth?
These “shorters” are playing a very dangerous game
You don’t screw with the Jews, and you definitely don’t screw with their most prized possession – their money.
You know what happened to the last guy that tried to pull something like this? We got him nailed to some wood. What makes you think we’d do any less to anyone else?
not to beat a dead horse, but I think the last guy that screwed with tribe ended up blowing his brains out in a bunker in Berlin.
some say the only money being made now is by the rumor mongers – and it seems like easy money.
i dont say that…some do
These “shorters” are playing a very dangerous game
You don’t screw with the Jews, and you definitely don’t screw with their most prized possession – their money.
You know what happened to the last guy that tried to pull something like this? We got him nailed to some wood. What makes you think we’d do any less to anyone else?
@64– how so?
Can someone explain to me what exactly is “improper” short selling?
Proving again that Wall Streeters are the biggest bunch of pussies around. “WAAHHH! DON’T SHORT SELL US!!” As if you weren’t perfectly happy with your dog-eat-dog capitalism what it was you doing the short selling.
Reinstate the uptick rule. a lot of these things need to bleed, at least let them bleed slowly. you should see some of the funds we are no longer trading with. some of the large guys are going to be opening up Fidelity accounts to find a market pretty soon.
Just in: British Bank Lloyds Agrees to Take Over HBOS
Just in: British Bank Lloyds Agrees to Take Over HBOS
#70 & 73
Just in case if you didn’t know. Many of the best hedge fund traders on Wall Street are Jews.
You might consider going down to Home Depot for a nail-gun and some wood for yourself.