2

ritholtz.com - 3/19/2009

Did Naked Shorting Do Lehman In?

— ritholtz.com — Oh, this is going to get the Sith Lords all hot & bothered! A Bloomberg article this... morning suggests that Lehman was “brought down,” in part, by naked shorting: “The biggest bankruptcy in history might have been avoided if ... (more) Did Naked Shorting Do Lehman In?

Stocks

Lehman Brothers

Comments vote downundo vote up HCPG Blog found this 3/19/2009found this

1

highchartpatterns.blogspot.com - 3/19/2009

Naked short-sellers destroy world economy

— highchartpatterns.blogspot.com — Naked short-selling bringing down Lehman? Not even a funny joke and astounding that even allegedly financially-savvy WSJ... / Bloomberg would argue the point. Ritholz couldn't have nailed it better: -------------------- From Barry Ritholtz's The Big Picture Both the WSJ and Bloomberg have ... (more) Naked short-sellers destroy world economy

Stocks

Comments vote downundo vote up hcpg posted 3/19/2009posted this

1

securitiesdocket.com - 3/18/2009

SEC Charges Madoff Auditors With Securities Fraud, “Pretending” to Perform Audit

— securitiesdocket.com — The SEC has charged the auditors of Bernard Madoff’s broker-dealer firm with committing securities fraud by falsely... representing that they had conducted legitimate audits, when in fact they had not. The SEC announced today that it has filed a complaint in the SDNY alleging that from 1991 ... (more) SEC Charges Madoff Auditors With Securities Fraud, ...

Government

SEC

Financial Crisis

Comments vote downundo vote up bcarton posted 3/18/2009posted this

Leave a Comment

Did Naked Shorting Do Lehman In?
The Big Picture — Oh, this is going to get the Sith Lords all hot & bothered! A Bloomberg article this morning suggests that Lehman was “brought down,” in part, by naked shorting: “The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts. As Lehman Brothers Holdings Inc. struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of Sept. 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the ...

Thursday morning links
The Mess That Greenspan Made — TOP STORIES • ‘Rambo Fed’ Will Buy Treasuries to Combat Crisis - Bloomberg • Treasury officials explicitly allowed AIG bonuses - LA Times • Madoff accountant hit with criminal charges - MarketWatch • iShares Silver Trust’s golden run - Commodity Online • Naked Short Sales Hint Fraud in Bringing Down Lehman - Bloomberg • Shell dumps wind, solar and hydro power in favour of biofuels - Guardian • Obama Needs AIG’s Liddy, Not Other Way Around - Bloomberg • The Real AIG Scandal - Slate MARKETS/INVESTING • Special: The unholy Fed-Gold nexus - Commodity ...

Opening Bell: 03.19.09
Dealbreaker — ... Guzman blurb, "Mexican and Colombian drug traffickers brought in $18 billion to $39 billion in wholesale cocaine shipments to the US last year. Guzman's organization took in, by Forbes' estimate, 20 percent of that-which makes for $3.6 billion to $7.8 billion in revenues. That's a good start. But then Forbes punts saying simply that's "enough for him to have pocketed $1 billion over the course of his career and earn a spot on the billionaire's list for the first time."" Naked Shorts Hint Fraud In Lehman Downfall (Bloomberg) "As Lehman Brothers Holdings Inc. ...

Lunchtime Links 3-19
Rolfe Winkler — (Send links, videos, pics to optionarmageddon at gmail with subject “link” … Thanks to Josy L.—$25 —for her donation!) A Test of Will (Economist)  “By the time its new steps are done, the Fed’s balance sheet will reach $4.5 trillion, or about a third of GDP, up from less than $1 trillion a year ago, Capital Economics estimates.”  That’s a lot of money printing! Will this work? (David Merkel)  Skepticism regarding the Fed’s reflation strategy.  “Lowering Treasury, Agency and conforming mortgage rates, assuming that it can be done in the long run (not likely), will not ...

Naked short-sellers destroy world economy
HCPG Blog — Naked short-selling bringing down Lehman? Not even a funny joke and astounding that even allegedly financially-savvy WSJ/Bloomberg would argue the point. Ritholz couldn't have nailed it better: -------------------- From Barry Ritholtz's The Big Picture Both the WSJ and Bloomberg have articles this morning about Naked Shorting. The Bloomberg article more explicitly suggests that Lehman was “brought down,” in part, by naked shorting: Naked Short Sales Hint Fraud in Bringing Down Lehman ...

What's wrong with the SEC investigation of Lehman Brothers?
BloggingStocks — Filed under: Bad news, Short stories, Financial CrisisThe SEC is charged with investigating potential illegal activities in the securities markets. The SEC is failing to carry out its responsibility when it cones to the collapse of Lehman Brothers last year. The SEC has in front of them charges of excessively high volumes of "naked" short selling in Lehman shares. A "naked" short sale is one where you sell a stock short without first borrowing the stock from a willing lender.If you do not first borrow the stock you cannot deliver it. This is called a "fail to deliver" trade. Last year 32.8 million shares of Lehman ...