Sorts know the Score and it is my understanding that the 50mil shorts are from a sub or friend of JPMC's. Texas lawsuit details the shorting of this stock and the reprecussions the NNS caused. It is thought to be, that WAMU was intentionally shorted overseas by the NSS agents in various financial or seedy unregulated slums and were employed or had a connection to the american company JP Morgan. However it is also a theory the Goldman Sachs, whom we hired to sell the firm, shorted it also. TPG might have hedged its betm by legally shorting this stock,, etc.. etc..
Some of the short shares may have been Naked Shorts that were never covered and now may have to be. We only have 1.7 Billion O/S and the shares they need do not exist, so they have to buy them on the open market. This is my understanding of this very complex situation. Shorting Financial Stocks was made illegal and many financial institutions were put on the "no short" list, but WAMU, Lehman, and Wachovia. It is very interesting how the ones that failed, were the ones who got shorted into oblivion. Makes me sick as an investor! I will not buy bank stocks ever again, as long as the current power of the FDIC is unregulated and not handled with the appropriate actions. FDIC can not seize a solvent bank!
Shorts are covering, because they have been informed something may be going up (our stock) in the future and they need to cover their ARSE! Shorts will cover slowly because they do not want to start a panic. Monday was a good panic move.
Can't wait for drrugby's short report!
All Aboard the WAMU train.. Heading for THJMW's courtroom, sit back have a nice cold drink and let your cares float away into the mountain air! Enjoy the View!
~Fish~
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