Becoming A Bank Holding Company Was Not The Message We Had In Mind
Despite the feelings of emptiness we're working through right now, born out of having the momentary exhilaration of picturing Jamie Dimon displaying the pair to go it alone ripped out from under us, we stand by yesterday's statement. Taking yourself off the short sell ban list SENDS A MESSAGE. A message that you are long, strong, down to get the friction on. And prepared to take whatever the market throws your way. And it puts your competitors in the awkward position of either doing the same, or exposing themselves as pussies (terrified that their tenuous relationship with the truth about level 3 assets might bite them in the ass). And I think we can all agree, watching Goldman agonize over the decision would be great fun. (LB ponders: "Delist or pussy, what shall I do?").