oldgoldbug

Evaluating Ambac: Intrinsic Value Withstanding Market Volatility

"Veracity" not "voracity" although the latter is quite appropriate. Perhaps their voracity is what got them in trouble and we are looking to their veracity for an honest answer to all our questions. Nonetheless looks like a bargain.

Selling the Short Sellers Short: Another Sign of Trouble

Naked shorts are similar to the "bear raids" back in the day which were a major cause of the 1929 Crash along with 10% leverage. So here we are again 80 years later with the same problem, only now it is 95% and more leverage. It is incredible that any of these banks on the wrong side are still standing....or are they? It all comes down to greed and Wall Street is insatiable. Bend the rules, break the rules, repeal the rules - none of it matters if they can make a buck and it doesn't matter to them who gets hurt.