Quote 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.