Mr.G

Trying To Find a Buyer for WaMu

I think WAMU is the start for retail banks to be shorted heavily -Banks have been asked for the last year and a half to show more transparency on their books(by investors) and go above and beyond regulations to prove they are not insolvent -Not one has done so therefore it assumed they all are insolvent - (this is why overnight lending has ceased) - every bank CEO in america is stating they are healthy. Investors are asking they prove it - These closed door weekend retreats where the select few get to see books and no one else does is enough to suggest that many are insolvent even though their public earnings are cooked legally to suggest otherwise -
If any bank does not want to be shorted to death , they need to do one thing. Prove they are relatively healthy by showing every detail of their holdings - and not just saying everything is ok. Not one has done so . So what does an investor assume when companies are unwilling to prove they are ok? That they arent.