Some Widows Hate Naked Shorts She's writing Obama, and her congressman, to complain The widow Mrs. Jeremiah Withington applauds, "A Corporate America that dares defy the odds That some short sellers will short shares they legally should borrow. They're selling what they haven't got and won't acquire tomorrow. "Naked shorts are what they're called except by media flacks, Who won't admit that they exist; those Moodys Triple 'H' for hacks. But most can read a teleprompter: 'We see Lehman falling fast.' Except CNBC's Mark Haines who looks to me like he's half gassed. His body language tells us that he either cannot see The teleprompter or, if he does, does not agree. "Yet CNBC in concert with naked shorts was devastating To bonus plans at Merrill Lynch Witness Thain's accelerating. Ditto Lehman Bros. plunge, victims of short sneak attacks. With sales of non-existent shares we're left with Bros. artifacts." If Lehman's CEO, Dick Fuld, would only deign to ask, We're sure the Widow Withington would patiently explain: "It wasn't sub-prime mortgages 'insured' by AIG, But naked shorts Haines couldn't see that sabotaged your reign." She says, "Obama needs to make the SEC demand Depository Trust & Clearing Corporation tell The FBI whenever sellers violate the law by failing to deliver what the hell it is they sell. "DTCC's designed to clear and settle ev'ry sale: Who sold what to whom, and when; so should deliv'ry fail, It could name guilty parties who'll get to go to jail, Unless the hedge fund lobbyists and Mark Haines prevail."
Bob Carlson To 'CNBC's Credibility Crises' To 'Naked Short Selling Verses' To 'Withington Verses' |