/biz/ - Business & Finance

>>49973003
>https://www.youtube.com/watch?v=FCiL4v7_z9E

After looking, I found the video that I was searching for. It was created by the channel from the op: https://www.youtube.com/watch?v=FCiL4v7_z9E In the video, the producer details how Bear and Lehman, while holding junk mortgage bonds, were severely damaged by naked shorting that led to the capitulations if banks in 2008.

At the start, he explains that $1.7 million of far OTM puts were purchased on Bear for 1 week out. This a bloomberg article on the topic states "``Even if I were the most bearish man on earth, I can't imagine buying puts 50 percent below the price with just over a week to expiration,'' said Thomas Haugh, general partner of Chicago-based options trading firm PTI Securities & Futures LP. ``It's not even on the page of rational behavior, unless you know something.''" https://www.bloomberg.com/news/articles/2008-08-11/ubs-auction-buybacks-alta-mortgages-fdic-mbia-compliance.. Following this, there was a gigantic influx of FTDs flooded into the market, causing a huge drop in Bear's value