that wamu was not placed on the DO NOT SHORT LIST but that was for regular legal shorting. Naked shorting is against SEC rules. It is illegal. The government had placed many banks on trhe no short at all list and unfortunately Wamu was not included as we all know that Paulson conspired with JP Morgan to destroy Wamu. Id Sussman took the case and I believe ,that he prefers to work on contingency, then the only question is HOW MUCH will we get Money will be paid to settle this case. I can see easily 300Million but it can also be over three billion. Between the new wmih stock and the LT trust, we might be made wole $1000.00 on the wampq. If this happens, I will bow down to Miss Bopfan and offer my apologies. I might even gve her a copy of my autobiography Mike and Sid Best Friends Forver which is now on Amazioni
yes illegal activity - most likely and hopefully proveable - as they had some fiduciary that makes it hard to justify any short selling naked or otherwise
300 Million after a court case that cost 100 million
add that to the LT which clearly has been clarified to NOT be related to price of WMIH by several posters who know
if the 300M gets past H and others - some comes to holders of LT claims based on equity
Dear #$%$ WaMu was NEVER put on the "do not short" list. The entire duration of the ban was merely weeks. It was finally realised that the financial weakness of the stocks was the driver of lower stock prices, not the short activity. Naked shorts account for about 90% of all shorting activity....AND IS NOT ILLEGAL THEN OR NOW.
Naked short selling restrictionsDuring the 2008 financial crisis, critics argued that investors taking large short positions in struggling financial firms like Lehman Brothers, HBOS and Morgan Stanley created instability in the stock market and placed additional downward pressure on prices. In response, a number countries introduced restrictive regulations on short-selling in 2008 and 2009. Investors argued that it was it the weakness of financial institutions, not short-selling, that drove stocks to fall. In September 2008, the Securities Exchange Commission in the United States abruptly banned short sales, primarily in financial stocks, to protect companies under siege in the stock market. That ban expired several weeks later as regulators determined the ban was not stabilizing the price of stocks
boymartyboy My book is very good. If you did not read do not talk. As for reviews, I have not yet hired a professional Public relations firm to promote it, I have been making most sales to friends and buiness associates who know my family. As for Wamu I also am disappointed and was ready to give up but now that I see Susman is involved, I do have to say I see new hope. I always thought why did Susman sell us down the river and give us NOTHING. Now I am thinking that maybe Susman and JPM and Goldman made a private deal with the hedgies. They maybe said let us give the wamu bank for free to JPM who needs it now. Some years go by and JPM makes a lot and so JPM funnels some BILLIONS over to Goldman Sacks in new deals and Goldman conveniently settles this lawsuit and we get some decent money. This is just a theory, you can not rely on it or put any money in the bank, but I still wonder why Susman would have allowed equity to settle so cheap if he was not privy to some way that we will EVENTUALLY be made whole.