Custom Search

Friday, April 29, 2011

"I am not shy when I see opportunity"

Or at least that's what Phil Falcone said on October 5, 2008 after he made a few billion illegally shorting Wachovia into the ground.

NYPost
So Falcone swung for the fences and sold the 117 million shares.

"That was the largest short position I have ever seen on the street," one investor in Falcone's fund told The Post.

"I am not shy when I see opportunity," Falcone told The Post last week, after being told of the investor's comment.

Today we find out the the SEC is finally looking into Harbringer's illegal short of Wachovia.


It looks like the SEC is not shy when they see opportunity also!

So here's the road map for their prosecution! Courtesy of Wall Street Manna over two years ago!

Saturday, March 14, 2009


Now I wrote about Harbinger the day before he and Soros and Simons were called up on Capital Hill.
http://aaronandmoses.blogspot.com/2008/11/santelli-tells-world-about-paulsons.html

Let's look again at the NY Post article about him on October 5, 2008.

While most traders who make their living betting financial sector stocks will decline have been forced to the sidelines in recent weeks because of the Securities and Exchange Commission ban on shorting, one trader who foresaw weakness in Wachovia in the spring has managed to book a $2.5 billion profit on a single trade on the ailing bank, The Post has learned.

Philip Falcone, of New York-based Harbinger Capital, rang up the incredible profit by shorting a whopping 117 million Wachovia shares at $30 back in May after his top analyst and investment chief pointed out problems with the Charlotte, N.C.-based bank's mega-billion dollar Option ARM loan portfolio.
http://www.nypost.com/seven/10052008/business/falcones_wachovia_short_bet_132254.htm

You even have a nice picture of him!

Now the entire short position, as reported by the short interest figures in Wachovia, at the end of April 2008 was only 117.4 million shares.
http://247wallst.com/2008/05/12/nyse-short-inve/

The short interest only increased 3 million shares the next two weeks when he supposedly put on this position.

So where were these shorted shares? Why didn't they show up?

After all, he only made $2.5 billion dollars on it. Don't you think he would get a decent locate if you were legitimately making $2.5 billion dollars?

Let's check his prime broker and see. Whoops! His prime broker was Lehman Brothers!

Now if we can't find his shares, that he shorted, on a $2.5 billion dollar trade in the short interest figures, how are we going to find all these smaller trades?

Oh, but rest assured, the gumshoes at the SEC are hard at work. During the week of his testimony, the SEC charged some trading firm, with violating the then-existing "uptick" rule by selling stock to depress prices and then buy back the stock.
http://complianceinsights.typepad.com/what_went_wrong/2008/11/sec-charges-day-traders-in-short-selling-scheme.html

These traders supposedly made $2.4 million.

$2.5 billion, versus $2.4 million. What's $2.476 billion between friends?

How long do you think it will take, for all these shorts to get bullish, and to unwind some of their bets? And if Cramer and Buffett were taken to task this week, what will happen to these guys who have profited from the same collapse of the institutions that have hurt Main Street?

So we get their metamorphis into the good guys. But first, they need to clean up their books.

So now you know why the TALF was postponed a few days. It wasn't that these hedge funds didn't want to buy the Government's merchandise.

They just didn't want the Government looking over their books!

So now, JPM gets to package the TALF funds, and sell them to the hedge funds, and get the go between fee, so the Fed's don't look at the hedge funds book.

And then JPM gets to use it's asymmetrical information advantage with the Fed's blessing!

And you still want to believe that these Investment banks won't be able to attract capital at competitive rates without FDIC backing?

This week we had Obama, Summers, Pandrit, Dimon and Lewis pumping the economy.

Sunday night, Bernanke's coming to 60 Minutes, and he'll be flexing the Fed's muscle to the nation, and giving his version of the pump.

And if that doesn't work, the Fed's next step will be to use handcuffs.

11 comments :

Guo Guo said...

yao20150319
louis vuitton handbags
oakley sunglasses
oakley sunglasses
ray ban sunglasses
coach outlet online
tods outlet
coach outlet
discount oakley sunglasses
louis vuitton outlet
gucci handbags
michael kors outlet online
kate spade handbags
burberry outlet
fitflop
timberland shoes
gucci outlet
marc jacobs
adidas shoes
kobe 9
timberland boots
michael kors uk
swarovski crystal
chanel bags
coach outlet
toms shoes
cheap nba jerseys
new balance 574
ray ban sunglasses online
ghd hair straighteners
ghd
hollister uk
cheap mlb jerseys
ralph lauren outlet
abercrombie and fitch
abercrombie and fitch

Unknown said...

celine handbags
longchamp outlet
michael kors handbags
cheap jerseys wholesale
louis vuitton handbags
coach outlet store online
burberry outlet online
timberland canada
michael kors
christian louboutin shoes
coach factory outlet
concord 13
jordan retro 11
mont blanc mountain
christian louboutin outlet
ray ban sunglasses
true religion jeans
cheap oakley sunglasses
christian louboutin
michael kors uk
p90x workouts
coach outlet online
ray ban sunglasses
kate spade diaper bag
cheap ray ban sunglasses
christian louboutin outlet
true religion outlet
insanity dvd sale
coach factory outlet
jordan 4s
chanel outlet
michael kors outlet
tod's outlet
jordan 11
michael kors outlet
nike air jordan pas cher
20150708xiong

Hua Cai said...

michael kors wallet, http://www.michaelkorswallet.net/
pandora jewelry
indianapolis colts jerseys
coach outlet store, http://www.coachoutletstoreonline.in.net/
rolex watches,rolex watches,swiss watches,watches for men,watches for women,omega watches,replica watches,rolex watches for sale,rolex replica,rolex watch,cartier watches,rolex submariner,fake rolex,rolex replica watches,replica rolex
coach outlet, http://www.coachoutletstoreonline.in.net/
foamposite gold
barcelona jersey
swarovski crystal
the north face jackets
michael kors factory outlet, http://www.michaelkorsfactoryoutlets.in.net/
kate spade outlet
michael kors outlet online, http://www.michaelkors-outlets.us.com
cleveland cavaliers jersey
kate spade outlet, http://www.katespade-handbags.us.com/
celine outlet
timberland shoes
the north face clearance
nike running shoes
oakley,occhiali oakley,oakley italia,oakley occhiali,oakley sunglasses
jordan 4
coach outlet online
prada handbags
puma sneakers
kobe 9 elite
air max 2015
valentino outlet
oakley sunglasses, http://www.oakleysunglassescanada.com
ugg boots, http://www.uggsoutlet.us.org
atlanta falcons jersey
2015901caihuali

Minko Chen said...

camisetas futbol baratas
cheap wedding dresses
michael kors canada
philadelphia eagles
true religion outlet
uggs outlet
rolex uk
louis vuitton outlet store
hermes outlet
nike free uk
true religion jeans outlet
wellensteyn outlet
cheap jordans
denver broncos
tommy hilfiger
woolrich outlet store
oakland raiders
ray ban outlet
ugg boots uk
pandora outlet
1106MINKO

John said...

louis vuitton handbags
ugg boots sale
chanel bags
michael kors outlet
polo ralph lauren outlet
lebron james shoes
montblanc
coach outlet store online
prada uk
cheap soccer shoes
ugg boots
coach outlet online
canada goose jackets
ugg boots on sale
abercrombie and fitch
uggs on sale
uggs boots
canada goose outlet
gucci outlet
coach outlet online
coach outlet
ugg outlet
louis vuitton handbags
toms
ugg boots outlet
tods outlet
canada goose jackets
louboutin pas cher
rolex watches outlet
mulberry handbags
louis vuitton handbags
20151204yuanyuan

方松腾 said...

0108
soccer jerseys,cheap soccer jerseys,cheap soccer jerseys for sale,soccer jersey,usa soccer jersey,football jerseys
lebron 12
tiffany and co
ralph lauren polo
oakley outlet online
coach outlet online
basketball shoes
snow boots outlet
air jordan 13 free shipping
tory burch outlet
ugg boots
chanel handbags
uggs outlet
michael kors usa
canada goose sale
replica watches
michael kors uk outlet
canada goose outlet
futbol baratas
michael kors uk outlet

柯云 said...

2016-01-26keyun
coach outlet
coach outlet store
jordan shoes
polo ralph lauren
the north face jackets
ugg outlet
p90x
louis vuitton bags
louis vuitton bags
true religion jeans outlet
ray ban sunglasses outlet
oakley sunglasses
nike free 5.0
coach outlet online
official coach factory outlet
coach outlet store online
michael kors outlet
abercrombie and fitch
pandora jewelry
abercrombie and fitch
coach outlet
marc jacobs outlet
true religion jeans
louis vuitton outlet
nfl jerseys
tory burch shoes
uggs on sale
louis vuitton outlet
oakley sunglasses cheap
hollister clothing
louis vuitton outlet stores
louis vuitton outlet
polo ralph lauren
nike air huarache
louis vuitton handbags
kate spade purses
louis vuitton handbags
canada goose outlet
ralph lauren home
kate spade outlet

林磊 said...

2016-3-25 leilei
ghd flat iron
discount oakley sunglasses
cheap jordans
michael kors
converse shoes
michael kors handbags
lululemon outlet
coach outlet online
louis vuitton handbags
designer handbags outlet
hermes belt
hermes outlet
kate spade outlet
coach outlet store online
jimmy choo outlet store
valentino shoes
babyliss flat iron
levis jeans
gucci borse
burberry outlet
nike trainers
reebok outlet
ugg sale
burberry outlet online
converse sale
ray ban sunglasses
air jordan shoes
michael kors outlet
michael kors outlet online
ray ban sunglasses outlet
cheap basketball shoes
ray bans
michael kors outlet
calvin klein outlet
chaussure louboutin
timberland boots
coach factory outlet
nike cortez shoes
christian louboutin uk
skechers outlet

柯云 said...

2016-05-12keyun
nike outlet store
coach factory outlet
lebron 11
cheap basketball shoes
louis vuitton handbags
jordan 3 retro
michael kors outlet online
burberry handbags
replica rolex watches
louis vuitton outlet stores
michael kors outlet clearance
jordan retro 4
copy watches
nike blazers shoes
nike roshe shoes
ralph lauren polo shirts
christian louboutin outlet
ray ban outlet
coach outlet store
christian louboutin shoes
michael kors outlet online
abercrombie outlet
louis vuitton bags
longchamp le pliage
hollister clothing store
michael kors handbags
louis vuitton bags
ray ban sunglasses
burberry handbags
air max 90
kate spade outlet
coach outlet store online clearances
cheap ray ban sunglasses
louis vuitton bags
michael kors handbags
kate spade handbags
louis vuitton outlet
toms outlet
coach outlet online

Chen Jeje said...

kobe byrant shoes
cheap air jordan
michael kors handbags
tiffany online
michael kors outlet online
nike huarache
air jordan retro
basketball shoes
kobe shoes
Cheap Jerseys Online
Cheap NFL Jerseys China
yeezy sneakers
fitflops clearance
jordans for cheap
michael kors uk
nfl jerseys
michael kors handbags

xjd7410@gmail.com said...

20160905 junda
ralph lauren uk
fitflops sale
louis vuitton outlet
cheap jordan shoes
coach outlet online
canada goose outlet store
moncler jackets
michael kors outlet online
jordan 13
tory burch outlet online
longchamp handbag
basketball shoes
snapbacks wholesale
coach outlet store
moncler jackets
versace sunglasses on sale
cheap michael kors handbags
michael kors outlet
adidas trainers
tiffany and co jewelry
tiffany outlet
tiffany jewelry
juicy couture outlet
swarovski outlet
michael kors outlet
ugg outlet
coach outlet store
cheap soccer jerseys
ugg outlet
nike tn pas cher
moncler outlet
lebron james shoes
ferragamo outlet
ugg boots clearance
mbt shoes outlet
toms outlet
beats headphones
rolex watches
louis vuitton handbags
ralph lauren polo