Its hard for me to believe that a senior partner in a major law firm could come to a hearing disorganized and unprepared. Much less appear that way in front of a judge.

I believe that trading groups have been trained by S & L to believe that if they sell the stock S & L will sell it to them at a lower price. So its easier for me to believe that a trading group, caught short by a end of the day rally and knowing that S & L is still reducing its position, would graciously offer us its "perspective " on the hearing.

But this is IMHO. I wasn't there.