Sex in the City

Did naked short sellers bring down Lehman and Bear Stearns? Looks like they might have. Various folks quoted in this Bloomberg story are yelling “fraud” but I find it hard to sympathise – seems to me that Lehman and Bear were big boys who did this stuff themselves. It’s a rough world down there on Wall Street.


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5 responses to “Sex in the City

  1. Walt

    You think Wall Street is rough? Look at the world I live in:
    And let’s be clear on a few things -FGG is very much alive and kicking and accepting new investors. So don’t believe everything you read. We had a small problem with ONE FUND for Pete’s Sake. Just call my pal Chris if you guys want in.
    Second – “Feeder Fund” is a derogatory term. We are an “alternative investment vehicle” (whatever that means – ask the guy who wrote the marketing materials) that employ’s “proprietary trading methodology”. Hope this helps!!
    Off to lunch!!
    Your Pal,

  2. anonymous

    Every financier should know what they’re signing up for; can’t claim one was too stupid to figure out the game

    Very few who are really smart, know how to manage risk and are honorable human beings…often, the rare good guys become wealthy at a young age (and know how to protect their net worth)…healthy to see many morons lose their net worth in a meltdown

    Natural selection prevails more efficiently in finance than in any industry in world, except perhaps tech

  3. Sambone


    They all shorted, played games, etc. Goldman is the king of the players!

  4. Kidding Really??

    I love all the stories about short sellers! It’s their fault all the banks, brokers and hedge funds levered up risky, non liquid assets 30x – 50x or like GE 100x.

  5. Walt

    We should discuss the impact of what the Fed did. This guy sees it like I do:
    Fed Strategy: Spread Economic Pain Over Multiple Years
    Posted Mar 19, 2009 02:45pm EDT by Tech Ticker
    Related: ^dji, ^gspc, abx, aauk
    The “Rambo” Fed yesterday announced it would inject $1 trillion more to aid the U.S. economy, including buying up to$300 billion worth of long-term Treasury securities over six months.The Fed’s message: deflation is our number one enemy and our aim is to spread out the economic pain over several years, notes guest John Mauldin, president of Millennium Wave Advisors.

    Of course there are risks to this scenario including dilution of the dollar’s value, (Gold has rallied more than $60 an ounce since yesterday’s Fed announcement amid declining confidence in the dollar.) and rising inflation. Can Bernanke and team beat deflationary pressures without risking hyper inflation?

    This guy is spot on. I feel like I already told you that, for some reason. But in much clearer terms so you dummy’s would understand it. But who knows. Friggin Alzheimers.
    Almost Happy Hour!!
    Your Pal,