Whoah! - looks like some at Schwab are in a pickle. I guess we can expect the share price to be driven down by the end of day if borrowers are willing to pay 3 days worth of interest over the weekend at that rate.
Do not forget that they still have the agreement to buy 14M shares at $.38, the NASDAQ issue does not void that deal.
So even at 45% for a week that would be:
.48 - .48*(.45/52) - .38 = .096
A fairly nice profit on a risk free deal (wrt shorting the shares in advance).
The only worry they would have is being forced to buy and hold those shares at $.38