Tuesday, Jun 24, 2008
Why shares in HBoS could fall yet further
MoneyWeek: Why shares in HBoS could fall yet further
With the FSA's new short-selling rules prompting investors to desert HBoS in their droves, and the parlous state of the UK property market, who in their right mind would take up the bank's rights issue now?
Posted by damien @ 10:56 AM (422 views) Add Comment
5 Comments
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1. icarus said...
The manager of Harbinger Capital must be thinking this about the FSA:
For 'tis the sport to have the enginer (sic)
Hoist with his own petar (sic); and 't shall go hard
But I will delve one yard below their mines
And blow them at the moon: O, 'tis most sweet,
When in one line two crafts directly meet
Shakespeare, Hamlet
(A petard (petar) is a bomb)
2. icarus said...
.....and 'Hoist' is lifted upwards (blown up)
3. techieman said...
Icarus - are you saying its poetic justice if the HBOS rights fails because of the (artificial) restrictions on the shorts ? ;-)
4. icarus said...
techieman - that, plus ham-fisted intervention doesn't work, plus big-time shorters now have a new tool with which to manipulate the market. What will the FSA do now - try the Malaysian idea of caning the shorters? (Others please note that jokes about taking down the shorts of the shorters or spanking naked shorters have already been done.)
5. holding out said...
The next step the FSA will probably take is to name the lender of the shares being shorted.