Troubled Guaranty Financial Group Shorts Disappear - trackseekingalpha

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Troubled Guaranty Financial Group Shorts Disappear
Aug 25, 2009 09:35 PM UTC

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Via Short Stock Ideas from Seeking Alpha:

The troubled Guaranty Financial Group (GFG) has been purchased by Banco Bilbao Vizcaya Argentaria, S.A. ADR (BBVA), the first time that a foreign bank has bought a failed U.S. bank. The short position had been as high as 24% of the outstanding shares, but had fallen as low as 1%. It currently stands at 7%, but the deal involves FDIC guarantees so this position is likely to disappear.

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