Wow Lehman Bros...
: E60 bank 
09-15-2008, 04:54 AM
#4
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Why can't you believe that? Who needs an investment bank bloated with sub-prime mortgage debt?
But seriously, this is very bad news. Ifs hard to believe that Merrill Lynch is no more too...at least not the way it used to be. Goldman Sachs and Morgan Stanley are due for their quarter results this week, and this is about to get really ugly.... Next few weeks are going to be very brutal for financial sector. I can easily predict few other big names to disappear.
But seriously, this is very bad news. Ifs hard to believe that Merrill Lynch is no more too...at least not the way it used to be. Goldman Sachs and Morgan Stanley are due for their quarter results this week, and this is about to get really ugly.... Next few weeks are going to be very brutal for financial sector. I can easily predict few other big names to disappear.
09-15-2008, 05:41 AM
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The people that ran these companies were paid fortunes for their 'expertise'. None of these so called 'experts' foresaw the sub-prime debacle? There were indicators of a crisis, but most ignored the signs. And for no one wanting to buy Lehmans, why would anyone want to pay money for something that is worth nothing?
09-15-2008, 06:04 AM
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Yeah, this isn't surprising... I called it. Bankruptcy isn't the end of the world either. I worked at Worldcom before, during, and after its bankruptcy. It is possible for Lehman to move on and be viable, let's see how it all plays out.
09-15-2008, 06:05 AM
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I used to work there.. I got laid off there in August. Crazy stuff.. Oh wellz. That's what they get for laying me off. LOL. j/k.
09-15-2008, 07:05 AM
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Originally Posted by bimmerlust' post='669625' date='Sep 15 2008, 07:08 AM
I can't believe they couldn't find a buyer over the weekend!
