Posted by: The Godfather Date: Friday, December 11, 2009 11:14:10 AM
In reply to: uzualsuzpect who wrote msg# 125198 Post # of 125235
" FBRC Acts as a market maker in the securities of (WFC)"
www.cnbc.com/id/28900288
Now, this creates a new twist as to who wanted to accumulate WAMU shares.. We all know Wells Fargo is not going hand in hand with the Gov and its evident by the way Wachovia was handled. The F-DIC wanted to gift it to Citi for 2 Billion but Wells Fargo offered 14 Billion and they bought it before the FDIC could snatch it away. Do a little DD on that and you will see how furious Citi was at not receiving Wachovia as a gift.
Now, maybe WFC did bid for WAMU too and I am sure they were in a position to raise more capital if need be and the FDIC screwed them over. If you look at how Meryll Lynch was gifted to BAC, WAMU to JPM and Wachovia about to be gifted to Citi, WFC is left out from all these sweet, toned down, 90% off deals.. They had to pay 7 times more to get Wachovia and Citi is being a sore loser and still fighting about it.
Now, suppose the corporate greed of WFC wants to show its true face and avenge the FDIC.. what better way can they do it legally than by buying WAMU shares? I am sure they had enough information about WAMU and bid for it but were given the shaft by the FDIC in favor of JPM. It was a fire-sale even before WFC could make a protest of any sort.
So, WFC wanted to buy a ton of shares.. They called in their MM to do the job for them.. FBRC steps in, and for different subs of WFC, starts shaking the tree violently for shares and starts accumulating WAMU shares. Now, I am guessing they are not done with the shares they need and alonwith the short covering and WFC wanting more shares.. We should see a good, quick and green rise to the top!!All IMO
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