By that I mean that 90% of stock was sold to Doral Holdings Delaware in mid 2007.
I found this on MSN
Some of the investors are household names like DE Shaw, Tannenbaurm, Eton Park
This gives me great solace knowing that they have deep pockets from the huge venture capital and hedge funds.
At MSN under stock ask for 5% or more share holders
Doral Financial Closes Sale of Shares to Doral Holdings Delaware, LLC SAN JUAN, Puerto Rico -- Doral Financial Corporation (NYSE:DRL) ("Doral" or the "Company") announced today that it had closed the sale of 968,263,968 shares of its common stock, $0.01 par value per share, to Doral Holdings Delaware, LLC ("Doral Holdings"), a newly formed entity in which Bear Stearns Merchant Banking and other investors, including funds managed by Marathon Asset Management, Perry Capital, the D. E. Shaw group and Tennenbaum Capital Partners, invested. Following the closing, Doral Holdings owns approximately 90% of the common shares of Doral that are outstanding.
And hedge funds have taken HUGE losses this year. As the hedge fund investors redeem their cash, the hedge funds must liquidate their holdings, driving the prices of the stocks they hold DOWN as they are forced to sell to meet the redemptions.