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Originally Posted by attaboy It appears when it got out on the street that Semgroup was short at $96 and couldn't cover the sharks bid oil even higher. |
Thats right- it's called a bear squeeze.
And when it became apparent that Lehmans were in trouble, exactly the same thing happened- the other investment banks, esp. Goldman & Morgan Stanley, bet against them- both making their demise inevitable, and making money on it.