The lei version as I understand it is that they were reporting their capital value based on assets which included mortgages and mortgage backed securities. When they revalued those mortgage securities based on today's market it looked like a big loss. <br> <br>Now, what does this mean? If you think the housing crap will be over within a year or so then the stock just went on sale. Otherwise, it was just a correction, the first of many in the industry. <br> <br>It also COULD be that they're working on their taxes and saw it as a great opportunity to have a MAJOR loss on record so they could avoid paying some taxes.