http://www.youtube.com/watch?v=712kRqri2No
― El Tomboto, Wednesday, 27 August 2008 16:26 (fifteen years ago) link
http://online.wsj.com/article/SB122109238502221651.html?mod=hps_us_my_companies
haha oh dear
― caek, Thursday, 11 September 2008 15:16 (fifteen years ago) link
http://www.rgemonitor.com/roubini-monitor/253567/if_lehman_collapses_expect_a_run_on_all_of_the_other_broker_dealers_and_the_collapse_of_the_shadow_banking_system
It is now clear that we are again – as we were in mid- March at the time of the Bear Stearns collapse – an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Morgan and Citigroup). Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Friday and again today to convince them not to pull the plug on Lehman and maintain their exposure to this distressed broker dealer.
― caek, Sunday, 14 September 2008 20:55 (fifteen years ago) link
Meanwhile, gas prices have jumped like $1.00 overnight in places like Knoxville. No idea what it is in portland, around the detroit suburbs it's 4.19/gal
― kingfish, Sunday, 14 September 2008 21:31 (fifteen years ago) link
Goldman and Morgan Stanley aren't nearly as compromised as Lehman is.
If the Fed was that worried about a run on commercial banks like JPM or Citi, they would have been writing a check this weekend like they did for Bear. Or maybe Paulson's just playing for a really slow liquidation.
― Dandy Don Weiner, Sunday, 14 September 2008 23:13 (fifteen years ago) link
so do I put my money in my mattress or not?
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Sunday, 14 September 2008 23:16 (fifteen years ago) link
Oh, and Lehman is filing for bankruptcy tonight:
NYT:
"According to people briefed on the matter, Lehman Brothers will file for bankruptcy protection on Sunday night, in the largest failure of an investment bank since the collapse of Drexel Burnham Lambert 18 years ago."
― Dandy Don Weiner, Sunday, 14 September 2008 23:18 (fifteen years ago) link
I know at least ten people who work for Lehman in NY. Time to check their Facebook.
― Dandy Don Weiner, Sunday, 14 September 2008 23:19 (fifteen years ago) link
yes tell us of their 'status' updates
― other extremists (deej), Sunday, 14 September 2008 23:25 (fifteen years ago) link
yippee ki yay motherfuckers
― HOOS clique iphones fool get ya steen on (BIG HOOS aka the steendriver), Sunday, 14 September 2008 23:27 (fifteen years ago) link
yes, a lot of my oxford contemporaries went to lehman. having played football with this people, it's impossible not to enjoy this aspect of the shitbin scenario.
― caek, Sunday, 14 September 2008 23:30 (fifteen years ago) link
these people
Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Friday and again today to convince them not to pull the plug on Lehman and maintain their exposure to this distressed broker dealer.Yeh, so, oops.
― -- (stet), Monday, 15 September 2008 00:49 (fifteen years ago) link
The Times is also talking about Merrill Lynch & AIG... are they all gonna collapse?
― pterodactyl, Monday, 15 September 2008 00:56 (fifteen years ago) link
Merrill is already gone: merger with BoA
― -- (stet), Monday, 15 September 2008 01:03 (fifteen years ago) link
oh, it's a sale not a mergerhttp://online.wsj.com/article/SB122142278543033525.html
― -- (stet), Monday, 15 September 2008 01:10 (fifteen years ago) link
bad move by BoA. This is the same bunch that bought Countrywide!
AIG hasn't looked good for a long time.
There won't be a run or systemic collapse.
― Dandy Don Weiner, Monday, 15 September 2008 01:20 (fifteen years ago) link
― press ► (deej), Monday, 15 September 2008 02:25 (fifteen years ago) link
cocksuckers at AIG are asking for MY money via a bridge loan.
― Dandy Don Weiner, Monday, 15 September 2008 03:36 (fifteen years ago) link
Caption this photo:
http://graphics8.nytimes.com/images/2008/09/15/business/15lehman.xlarge3.jpg
I guess if you figure you can't even get back IN the building on Monday...
― Ned Raggett, Monday, 15 September 2008 03:38 (fifteen years ago) link
and for those who really wanna shit their pants -- is the head of lehman brothers whistling past a graveyard?
― Eisbaer, Monday, March 17, 2008 12:59 AM (5 months ago) Bookmark
um, brown trouser days ahead?!?
― Eisbaer, Monday, 15 September 2008 05:09 (fifteen years ago) link
― 100 percent HOOS test (BIG HOOS aka the steendriver), Monday, 15 September 2008 05:24 (fifteen years ago) link
the other night at my job where i telemarket for my school, this woman decided to give me a pledge so the i asked if she or her husband worked for a matching gift company, and she said "yes, lehman, but you better get it in quick" and then she laughed and i laughed back because i had no idea what she was talking about
― funky house truther (J0rdan S.), Monday, 15 September 2008 05:28 (fifteen years ago) link
now i do :[
Bad finger analogies
― Ned Raggett, Monday, 15 September 2008 05:46 (fifteen years ago) link
i wonder if lehman will sell off their awesome led screens.
http://www.untwist.com/images_projects/lehman_bros_anim.gif
― tipsy mothra, Monday, 15 September 2008 05:52 (fifteen years ago) link
better than badfinger analogies, one assumes
― 100 percent HOOS test (BIG HOOS aka the steendriver), Monday, 15 September 2008 06:05 (fifteen years ago) link
nyt commenters <3 <3
― funky house truther (J0rdan S.), Monday, 15 September 2008 06:08 (fifteen years ago) link
September 14th,20088:03 pmThe football analogy really doesn’t work. Lehman has just been knocked out of the playoffs, and actually knocked out of the league. The executives of Lehman and many Wall Street firms, unlike Ronnie Lott, did not play to help the team win, but instead exhibited extreme greed and foolishness.— Posted by James
no SIR-- no credibility
― 100 percent HOOS test (BIG HOOS aka the steendriver), Monday, 15 September 2008 06:23 (fifteen years ago) link
Jimmy Mod askin the real questions.
Remember when your friends would tell you "now if a major bank or the U.S. Government writes you a check that bounces, then you probably have more to worry about than if you're getting paid!" and you would have a corny laugh over it?
― Mackro Mackro, Monday, 15 September 2008 06:47 (fifteen years ago) link
Everyone is lookin all sad on the PATH train right now
― sex viagra cialis hard teen firm wet tight sexy rod unit teens hole suck (max), Monday, 15 September 2008 12:56 (fifteen years ago) link
"pound it bra, one last time..."
― burt_mcgurt, formerly known as (burt_stanton), Monday, 15 September 2008 13:03 (fifteen years ago) link
Louise Story reports that Ken Lewis of Bank of America, on a conference call this morning, said he believed Merrill Lynch was “more likely than not” to survive the current turmoil. Now there’s an endorsement.
― Convert your pencil into a large pole (caek), Monday, 15 September 2008 13:51 (fifteen years ago) link
Not gettin a real answer to mah questionsz :\
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 15 September 2008 13:58 (fifteen years ago) link
burn, Wall Street, burn
― Dr Morbius, Monday, 15 September 2008 15:35 (fifteen years ago) link
if your mattress ends with FCU or is otherwise a big consumer bank that doesn't buy securities/back investments in golf courses (USAA word) put money in that mattress.
Otherwise that money will just be worth less and less every day while it sits in your mattress
― TOMBOT, Monday, 15 September 2008 16:51 (fifteen years ago) link
that's what I thought.
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 15 September 2008 16:53 (fifteen years ago) link
ZIRP
― TOMBOT, Monday, 15 September 2008 16:57 (fifteen years ago) link
i am enjoying being in school and having no money and learning about how all this stuff works without having a personal stake in it right now!
― bell_labs, Monday, 15 September 2008 17:09 (fifteen years ago) link
no money = no problems
― bell_labs, Monday, 15 September 2008 17:10 (fifteen years ago) link
me too. I have problems, but having money is certainly not one of them! good times.
― Convert your pencil into a large pole (caek), Monday, 15 September 2008 17:17 (fifteen years ago) link
my response to all this has been to get me a civil service position. soon I'll be double recession proof.
― TOMBOT, Monday, 15 September 2008 17:21 (fifteen years ago) link
so where do we go after we're done shovelling the ashes of wall st
― 100 percent HOOS test (BIG HOOS aka the steendriver), Monday, 15 September 2008 17:27 (fifteen years ago) link
http://newsimg.bbc.co.uk/media/images/45019000/jpg/_45019745_bankerfrench226.jpg
The caption for this on the BBC website is:
Edouard d'Archimbaud arrived at work to be told everyone had been fired
Difficult to feel sorry for a guy with a smirk that says he knows he's got six months off before they all start again and a name like that.
― Convert your pencil into a large pole (caek), Monday, 15 September 2008 17:32 (fifteen years ago) link
http://www.bloggingstocks.com/2008/09/15/100-year-crash-110-banks-to-fail-regulators-flail-70-billion/
The Wall Street Journal reports that the Fed is expanding its lending facility for Wall Street banks. In addition to getting money from the Fed after posting collateral such as bonds, mortgage-backed securities (MBSs), collateralized debt obligations (CDSs) -- the banks can now get money for posting equities as collateral. To translate into English, after permitting two of Wall Street's biggest names to go under, the government is realizing that it may have made a mistake. It is now back in the business of bailing out Wall Street.
But this means that the Fed is becoming Wall Street's garbage collector. So when it takes MBSs, CDSs, and stocks as collateral, it is risking taxpayer money because in all likelihood, this collateral could be worth much less than its face value. But wait, there's more. The Fed is being joined by a $70 billion lending facility created by some banks to help bailout their brethren. And one analyst expects 110 banks (out of 8,400) to fail by July -- that would account for $850 billion in assets out of $13 trillion total....What to do? If you need your money in the next 10 years, take it out of everything else and deposit it in sub-$100,000 accounts with profitable banks.
― Vichitravirya_XI, Monday, 15 September 2008 17:39 (fifteen years ago) link
This guy's name is like the premise for an Eddie Izzard bit.
Lehman will not hire me because of my low-class family name! I must become...Edouard...d'...archim...BAUD!
― 100 percent HOOS test (BIG HOOS aka the steendriver), Monday, 15 September 2008 17:57 (fifteen years ago) link
BUT WAHT R TEH PROFITABLE BANX?>!!
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 15 September 2008 17:58 (fifteen years ago) link
uhm, hm. i think for big banks bank of america and chase are doing fine?
i just set up to do my checking through schwab instead of wamu.
― bell_labs, Monday, 15 September 2008 18:04 (fifteen years ago) link
xp, retail banks like BoA, etc.
― Convert your pencil into a large pole (caek), Monday, 15 September 2008 18:04 (fifteen years ago) link