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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (3595)	6/3/2008 10:31:00 PM
From: The Reaper	Read Replies (1) \| Respond to of 6370

Just read an article that said Lehman was buying it's own shares today. What a bunch of buffoons to be squandering their precious capital on that exercise. They ought to be raising any capital they can while the window is still open and cutting their dividend if they want to survive. How do such smart people do such stupid things?

To: RockyBalboa who wrote (3595)	6/4/2008 10:51:58 PM
From: The Reaper	Read Replies (1) \| Respond to of 6370

Here's a good one from MBIA today.. "We disagree with Moody's decision today. When Moody's affirmed our rating with a negative outlook in February, we believed that it would refrain for six to 12 months from taking additional ratings actions unless the environment or MBIA's position changed materially. Since then, there have been no material adverse changes in the environment, and we believe our capital position has improved. In other words, Moody's is finally admitting that MBIA was not AAA in February or probably before that, if they want to downgrade MBIA now with an "improved capital position". If I was a smart attorney, LOL, I'd be filing lawsuits left and right against MBIA and AMBAC.