For some reason this comes to mind "If you owe the broker $1m that's your problem. If you owe the broker $100 million, that's their problem." I think is the reason why the shorts numbers are still so high.
Either that or Hypothecation has occurred when a borrower/short seller promises the right to an asset/another stock as a form of collateral in exchange for the borrowed GMD shares.
In which case the shorters clients have been thrown under the bus. Really Clients must be aware of rehypothecation as it is technically their own assets that have been pledged. Serves them right though. Way too many come under the umbrella of nominees these days. If you don't hold it directly you don't own it. Basically fractional Reserve Banking of shares. What can possibly go wrong...Lehman style.
GMD Price at posting:
$2.16 Sentiment: Buy Disclosure: Held
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