Looks like Lehman Brothers is going to the Wall

Suedesi · 12th September 2008, 01:24

is fecked.

Mer next, or Wamu?

C even?

x42bn6 · 12th September 2008, 01:33

Suedesi · 12th September 2008, 03:12

http://www.lehman.com/

mjs020294 · 12th September 2008, 03:25

Quote:

Originally Posted by Suedesi

is fecked.

Mer next, or Wamu?

C even?

MER - No
C- No
WM - possibly. JPM will buy them before years end IMO.

GloryHunter07 · 12th September 2008, 14:42

Bloke i know got offered a job there when we graduate this summer... gutting!

bazalini · 14th September 2008, 23:04

Amazing stuff.

Alan Greenspan's comments certainly won't help the markets when they open in the morning

Quote:

First of all, let's recognise that this [the financial crisis] is a once-in-a-half-century, probably once-in-a-century type of event... There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go.

mjs020294 · 14th September 2008, 23:05

Its a very uncertain time for the US, and European economies.

bazalini · 14th September 2008, 23:08

Not healthy at all.

Looks like the likes of Citigroup, JP Morgan and Morgan stanley pulled back as well because they themselves are uncertain.

mjs020294 · 14th September 2008, 23:17

The US is pretty much insolvent right now. Years of trade deficits, $600 billion a year on foreign oil and too much military spending is coming home to roost.

The US economy has been living on borrowed money for a few years and all of a sudden foreign investors are pulling back because the tides of the economic fortunes are changing.

mjs020294 · 15th September 2008, 01:53

Bank of American has bought Merill Lynch for $29 a share. LEH is officially gone.

WOW, GW Bush can be proud, three of the oldest companies wiped out in a few months,

Suedesi · 15th September 2008, 04:45

Quote:

Originally Posted by mjs020294

MER - No
C- No
WM - possibly. JPM will buy them before years end IMO.

Sure about that?

Suedesi · 15th September 2008, 04:46

Quote:

Originally Posted by mjs020294

Bank of American has bought Merill Lynch for $29 a share. LEH is officially gone.

WOW, GW Bush can be proud, three of the oldest companies wiped out in a few months,

You're a fecking idiot.

Christofaux · 15th September 2008, 04:53

Sucked in to Lehman Brothers... I used to work on a Cisco help desk and had to order parts for them when they were faulty... they always treated me like crap and thought they were better then me even though i gave them exactly what htey want.

mjs020294 · 15th September 2008, 05:07

Quote:

Originally Posted by Suedesi

Sure about that?

Well seeing as BAC just bought them for a 50% premium over stock price, yes I am sure they aren't "fecked."

mjs020294 · 15th September 2008, 05:11

Quote:

Originally Posted by Suedesi

You're a fecking idiot.

So the President for the last eight years doesn't take any responsibility for the state of the economy? His policies and tax cuts encouraged over spending, and over borrowing. GW and his advisers failed to see the potential problems with unregulated irresponsible lending.

We are taking about companies that have survived world wars and great depressions falling by the wayside after a few years of GW's economic policies.

GW Bush will go down as one of the most disastrous Presidents in history. Nothing good as come from or will be remembered from his presidency.

Nick 0208 Ldn · 15th September 2008, 06:09

They in the last hour have officially filed for Chapter 11, the Dow is predicted to drop 300 points.

ERICSAGOD · 15th September 2008, 08:03

Quote:

Lehman Bros files for bankruptcy

The fourth-largest investment bank in the US, Lehman Brothers, has said it will file for bankruptcy protection, amid a growing global financial crisis.

Lehman had incurred losses of billions of dollars in the US mortgage market.
The move threatens to deal a further blow to the global financial system, as banks unwind their deals with Lehman.

Merrill Lynch, also stung by the credit crunch, has agreed to be taken over by Bank of America in a dramatic weekend of events for Wall Street.

Stock markets in Asia opened sharply lower and the dollar tumbled against the euro and the yen as Lehman's failure raised fears about the strength of the global financial system.

Fourth largest, fcuk, where's this all going to end!

Fitzjames · 15th September 2008, 08:20

Speaking as a person who is retired and no longer has a mortgage. And rarely uses a credit card, I cant exactly see how it affects me.
When mining and steel communities were being devastated in the 1980s there was after all no such thing as society......I dont recall any of the yuppies in the City of Londons "greed is good" culture getting overly worked up about it.
I see all the usually suspects like Henk Potts and the guy who wears red braces....on TV this morning telling me how bad this all is...but I still dont get it.
All Ive seen is a loada New York banking types come out of an office building with cardboard boxes containing their possessions. Not exactly a disaster is it......I mean McDonalds is still recruiting and they can always join the Army.

ERICSAGOD · 15th September 2008, 09:01

Quote:

Not exactly a disaster is it

You watch the value of shares drop like a brick today!

Wonder Pigeon · 15th September 2008, 09:10

Quote:

Originally Posted by Fitzjames

Speaking as a person who is retired and no longer has a mortgage. And rarely uses a credit card, I cant exactly see how it affects me.
When mining and steel communities were being devastated in the 1980s there was after all no such thing as society......I dont recall any of the yuppies in the City of Londons "greed is good" culture getting overly worked up about it.
I see all the usually suspects like Henk Potts and the guy who wears red braces....on TV this morning telling me how bad this all is...but I still dont get it.
All Ive seen is a loada New York banking types come out of an office building with cardboard boxes containing their possessions. Not exactly a disaster is it......I mean McDonalds is still recruiting and they can always join the Army.

It doesn't effect me so it doesn't matter.

bazalini · 15th September 2008, 09:14

Fecking Ftse in Freefall again - Down 2.75%.

Dollar also falling.

As things go - This is fecking serious for everybody as Banks drive an economy

bazalini · 15th September 2008, 10:05

Quote:

Originally Posted by Wonder Pigeon

It doesn't effect me so it doesn't matter.

Oh Yes - It will.

What age are you Wonder Pigeon??

If you are coming out of college looking employment, you'll find it difficult to get a job as Banks will be unwilling to support companies who are promoting employment.

If you live at home, your parents could be feeling the pinch and godforbid be facing unemployment.

If you are a new home owner in your mid 20's to late 30's you'll find your mortgage is worth more then the property you'll be living in

anything about now · 15th September 2008, 10:11

Quote:

Originally Posted by Wonder Pigeon

It doesn't effect me so it doesn't matter.

Pretty sure it would affect everyone. Maybe not the chinese, lol

bazalini · 15th September 2008, 10:17

Quote:

Originally Posted by anything about now

Pretty sure it would affect everyone. Maybe not the chinese, lol

Any new exporter with a cool idea will be unable to get funding from Banks to enable him to go to China and manufacture his product

gaffs · 15th September 2008, 10:38

Its not looking good, i work for an investment bank - they have already got rid of loads of people.

holyland red · 15th September 2008, 11:04

It's all Jens' fault

Wonder Pigeon · 15th September 2008, 11:04

Quote:

Originally Posted by bazalini

Oh Yes - It will.

What age are you Wonder Pigeon??

If you are coming out of college looking employment, you'll find it difficult to get a job as Banks will be unwilling to support companies who are promoting employment.

If you live at home, your parents could be feeling the pinch and godforbid be facing unemployment.

If you are a new home owner in your mid 20's to late 30's you'll find your mortgage is worth more then the property you'll be living in

er...Baz, I was criticizing Fitzjames stance that since he feels it doesn't effect him it doesn't really matter and all those people out of a job can go work for McDonalds.

GloryHunter07 · 15th September 2008, 12:21

Quote:

Originally Posted by mjs020294

So the President for the last eight years doesn't take any responsibility for the state of the economy? His policies and tax cuts encouraged over spending, and over borrowing. GW and his advisers failed to see the potential problems with unregulated irresponsible lending.

We are taking about companies that have survived world wars and great depressions falling by the wayside after a few years of GW's economic policies.

GW Bush will go down as one of the most disastrous Presidents in history. Nothing good as come from or will be remembered from his presidency.

If the worlds financial experts didnt see the problems within the housing market until too late, how was the US goverment supposed to?

Muppet

Fitzjames · 15th September 2008, 12:31

Quote:

Originally Posted by Wonder Pigeon

It doesn't effect me so it doesn't matter.

Well Id feel more symapathetic if I thought these yuppy types had given a damn about miners and steel workers.

Fitzjames · 15th September 2008, 12:32

Quote:

Originally Posted by ERICSAGOD

You watch the value of shares drop like a brick today!

I love shares falling. But then again I dont own any.

12th September 2008, 01:24	#1 (permalink)
Suedesi First Team Sub Join Date: Aug 2001 Location: New York City Posts: 9,277	So Lehman is fecked. Mer next, or Wamu? C even?

12th September 2008, 01:33	#2 (permalink)
x42bn6 Reserve Team Player Join Date: Jun 2008 Location: PMing people with maths homework answers - feel free to ask Posts: 3,694

12th September 2008, 03:12	#3 (permalink)
Suedesi First Team Sub Join Date: Aug 2001 Location: New York City Posts: 9,277	http://www.lehman.com/

12th September 2008, 14:42	#5 (permalink)
GloryHunter07 Reserve Team Player Join Date: Oct 2007 Location: City of London Posts: 1,931	Bloke i know got offered a job there when we graduate this summer... gutting!

14th September 2008, 23:05	#7 (permalink)
mjs020294 Reserve Team Player Join Date: May 2008 Location: Lost in Space Posts: 1,424	Its a very uncertain time for the US, and European economies.

14th September 2008, 23:08	#8 (permalink)
bazalini Join Date: May 2000 Location: President of The Bring Back "Charlie Devils, Neil Thomson & Clayton Blackmore" Fan Clubs Posts: 16,634	Not healthy at all. Looks like the likes of Citigroup, JP Morgan and Morgan stanley pulled back as well because they themselves are uncertain.

14th September 2008, 23:17	#9 (permalink)
mjs020294 Reserve Team Player Join Date: May 2008 Location: Lost in Space Posts: 1,424	The US is pretty much insolvent right now. Years of trade deficits, $600 billion a year on foreign oil and too much military spending is coming home to roost. The US economy has been living on borrowed money for a few years and all of a sudden foreign investors are pulling back because the tides of the economic fortunes are changing.

15th September 2008, 01:53	#10 (permalink)
mjs020294 Reserve Team Player Join Date: May 2008 Location: Lost in Space Posts: 1,424	Bank of American has bought Merill Lynch for $29 a share. LEH is officially gone. WOW, GW Bush can be proud, three of the oldest companies wiped out in a few months,

15th September 2008, 04:53	#13 (permalink)
Christofaux Reserve Team Player Join Date: Feb 2008 Posts: 2,924	Sucked in to Lehman Brothers... I used to work on a Cisco help desk and had to order parts for them when they were faulty... they always treated me like crap and thought they were better then me even though i gave them exactly what htey want.

15th September 2008, 06:09	#16 (permalink)
Nick 0208 Ldn First Team Sub Join Date: Mar 2004 Location: Londinium - Never stop dreaming. Posts: 6,810	They in the last hour have officially filed for Chapter 11, the Dow is predicted to drop 300 points.

15th September 2008, 08:20	#18 (permalink)
Fitzjames Reserve Team Player Join Date: Aug 2005 Location: Co Armagh Ireland Posts: 1,008	Speaking as a person who is retired and no longer has a mortgage. And rarely uses a credit card, I cant exactly see how it affects me. When mining and steel communities were being devastated in the 1980s there was after all no such thing as society......I dont recall any of the yuppies in the City of Londons "greed is good" culture getting overly worked up about it. I see all the usually suspects like Henk Potts and the guy who wears red braces....on TV this morning telling me how bad this all is...but I still dont get it. All Ive seen is a loada New York banking types come out of an office building with cardboard boxes containing their possessions. Not exactly a disaster is it......I mean McDonalds is still recruiting and they can always join the Army.

15th September 2008, 09:14	#21 (permalink)
bazalini Join Date: May 2000 Location: President of The Bring Back "Charlie Devils, Neil Thomson & Clayton Blackmore" Fan Clubs Posts: 16,634	Fecking Ftse in Freefall again - Down 2.75%. Dollar also falling. As things go - This is fecking serious for everybody as Banks drive an economy

15th September 2008, 10:38	#25 (permalink)
gaffs Reserve Team Player Join Date: May 2007 Location: E236 - New Member of the K Stand Barmy Army Posts: 3,684	Its not looking good, i work for an investment bank - they have already got rid of loads of people.

15th September 2008, 11:04	#26 (permalink)
holyland red First Team Sub Join Date: Oct 2001 Location: Haifa, Israel Posts: 9,439	It's all Jens' fault