With Ross now in charge, it was time to clean up the bank and looks like management moved a bunch of loans into Held for Sale and marked them down to be sold. The provision at 4% looks solid now and the hope is that a good chunk of the credit issues will now be behind them and give Ross a clean slate to turn SWS around. Book value after taking the charges is $11.06 and the stock closed at $6.89 or a paltry 62% of book value. The market is conveyinig that SWS has to take another $135 million in losses is just plain silly. Buy.