Hot or Not, Callan is Shot 1440 Wall Street
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Although she does not look much like the typical Wall Street Warrior, Lehman's CFO, Erin Callan, launched a blitzkreig today that was largely responsible for kicking off the rally and absolutely decimated the shorts that have been dogging the stock. The conference call was well scripted, credible, and hit the mark.
The seeds of the rout were planted with Lehman CEO Dick Fuld's statements mid-day Monday, but the shorts pressed this stock too hard and were massacred. The Fed has Lehman's back, and it bent but did not break. Yes, it is all a big game, but Erin knows how to play it. Nice move in the XLF, but lets see if it sticks.
Citi's Sallie Krawcheck is yesterday's news. A star was born today, and this interview with the Lehman CFO proves why:
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Comments:
Good one - to bad she can’t do math.
I really hate to say this, but I don’t think she was hired based on her knowledge of pricing derivatives.
Regardless - she never answered David Enihorn’s questions about their 10k. A guess her number is up after the above videos vs. the math! Almost $3 billion more in write-downs and a hand out for $6 billion.
What now - sell stock (devalue) to raise cash, bendover to the soverign funds, or visit Ben for a special deal at the discount window?
Stick a fork in it!
The bottom line is not her figure, but that she can NOT figure!
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