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Write-Offs: 06.19.09

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$$$ Law firm Wachtell weighs in on possible short selling rules in letter to the SEC. "Selling a stock short in combination with the purchase of such a swap -- tied to a company's ability to pay its debt -- can send a false signal into the marketplace," the letter said. And as everyone knows, market prices are always accurate, right? Oh, yeah.... [Law360]
$$$JPMorgan expects $1.1 billion Q2 charge after TARP [Reuters]
$$$Marc Dreier's Homes Underperform on the Block [Curbed]
$$$ Bank of America done with Merrill' bull [The Deal]