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Msg  35242 of 44360  at  5/11/2009 10:00:58 AM  by

De Daumier-Smith


 In response to msg 35230 by  rashomon
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Re: Judd, a huge fallacy of yours exposed, take down your faulty video

I'm aware of Bobo's revisiting of the $10.5b figure, and the fact that all broker-dealers quarterly filings include a "securities sold, not yet purchased" line item.
 
But the video hardly hinges upon that bit of evidence. That's why I put it in last in the chain. In fact, I considered not including it at all, but I decided otherwise, based on the fact that:
  • Through it, the cited "investigators" were clearly demonstrating concern over the existence of many failed trades at Refco.
  • It was one of the very few bits of information to emerge following the sealing of the bankruptcy proceedings.
  • It came from the Financial Times.
  • The reporting was never contradicted or challenged in subsequent reporting.
 
The keystone to the argument is the $450-million mystery liability. The $10.5-billion line item, and the concern expressed by "investigators" that there might have been a lot of naked shorting going on at Refco, merely underscores the high liklihood that the $450-million was a barrell full of failed trades.
 
Find evidence to disprove that portion of my hypothesis and we'll have something to talk about.


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Msg # Subject Author Recs Date Posted
35243 Re: Judd, a huge fallacy of yours exposed, take down your faulty video rashomon 0 5/11/2009 11:44:31 AM








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