Boo Hoo - they're shorting us...
Short them I say - all they have is paper $$ - they are part of the biggest lairs club ever, emperor with no clothes.
FT.com / In depth - Morgan Stanley in talks with Wachovia: "John Mack, Morgan Stanley’s chief executive, was said to be livid at the plunge in the share price. He contacted Hank Paulson, Teasury secretary, and Christopher Cox, Securities and Exchange Commission chairman, accusing short sellers of targeting Morgan Stanley and urging them to take action.
The SEC on Wednesday night said it would subpoena hedge fund managers who had traded in 19 financial institutions and require managers with holdings of $100m or more in certain securities to report their short positions every day.
In a memo, Mr Mack said: “There is no rational basis for the movement in our stock or credit default spreads...We’re in the midst of a market controlled by fear and rumours and short sellers are driving out stock down.”"
FT.com / In depth - Morgan Stanley in talks with Wachovia: "John Mack, Morgan Stanley’s chief executive, was said to be livid at the plunge in the share price. He contacted Hank Paulson, Teasury secretary, and Christopher Cox, Securities and Exchange Commission chairman, accusing short sellers of targeting Morgan Stanley and urging them to take action.
The SEC on Wednesday night said it would subpoena hedge fund managers who had traded in 19 financial institutions and require managers with holdings of $100m or more in certain securities to report their short positions every day.
In a memo, Mr Mack said: “There is no rational basis for the movement in our stock or credit default spreads...We’re in the midst of a market controlled by fear and rumours and short sellers are driving out stock down.”"
posted by Tolli at 10:01 PM
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