jimsep

Sovereign Bancorp's GSE Preferreds: What Was the Company Thinking?

The CEO who presided over the destruction of shareholder wealth is still there. Why?

The SEC Panics

Confusion reigns.

Naked short selling has been illegal forever.

It is also difficult to do as no prime broker will allow it. There is very little of it going on. The author obviously doesn't know what he is talking about.

Blaming shorts for what is happening to financial stocks is nonsense.

Blame the managements who made risky loans. Blame the regulators who were asleep at the switch. Blame Congress for enacting legislation which put pressure on lenders to act imprudently.

This country has bankers who do not know how to make loans, an auto industry that cannot make an auto anybody wants or needs, an airline industry that cannot price their service adequately and a homebuilder industry that doesn't know how to stop building in the face of sharply reduced demand and much larger supply.

That's why we are in trouble.