Lehman

[MrGecko]

anyone else watching this lehman business over the weekend?

Barclays have walked away, no input from the fed... Merril apparently in merger talks...???

credit dealers had a 2hr sunday session to take offset any trades lehman had taken both sides on - looks like theres gotta be a deal done or bancruptcy filed for by 11:59 NY time. This seems to have got aveyone by the short and curlies, waiting for developments.

FWIW, I think it's a holiday in Japan, so their markets may well be quiter than usual, though I doubt the lehman thing will be ignored.

Macabre, but this will determine most of the moves in the markets IMHO.

 

[Paul71]

anyone else watching this lehman business over the weekend?

Barclays have walked away, no input from the fed... Merril apparently in merger talks...???

credit dealers had a 2hr sunday session to take offset any trades lehman had taken both sides on - looks like theres gotta be a deal done or bancruptcy filed for by 11:59 NY time. This seems to have got aveyone by the short and curlies, waiting for developments.

FWIW, I think it's a holiday in Japan, so their markets may well be quiter than usual, though I doubt the lehman thing will be ignored.

Macabre, but this will determine most of the moves in the markets IMHO.

Liquidated mate, gone, and no return....so it says on ET.

 

[MrGecko]

related

Bank of America in Talks to Buy Merrill Lynch - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times

 

[MrGecko]

well I just heard LEH are filing for bancruptcy protection...

 

[marlintrdg]

Man what a mess, check out all the financial news channel talking heads, their going nuts!!

 

[mikeeg]

Man what a mess, check out all the financial news channel talking heads, their going nuts!!

Yeah, truly mental. It's turning into a historical day!

 

[JTrader]

The world economy is fast heading for serious hardship. Still, we've been warned for months. But they haven't quite known how bad it is going to get, as they don't know and just say as it is happening...oh, and by the way.....Nationwide CEO says etc...
None mainstream analysts have been saying depressino is ahead for the last year now. Perhaps when my bank files for bankruptcy and i'm queueing up outside with a wheel barrow to withdraw my savings, & i need that wheelbarrow of notes to then buy a loaf of bread, will I begin to believe them!

 

[anley]

Yeah, truly mental. It's turning into a historical day!

Ever noticed about how prety much everything is 'historic' these days alongside so many things 'making history'. Watch the news and other programs and you'll see what I mean.

If you were a regular watcher of the BBCs Olympic show at 7pm you'll know what I mean. Almost every event and every gold was history making. Sorry but some guy winning a gold in rowing where the world record wasn't even threatened is not history making. Most people have probably already forgotton it.

But when Bolt smashed those 2 records, now that was history making hence many people will remember it for a long long time.

Seems like the world has gone hype crazy which means when something major happens it's often a let down.

 

[Hoggums]

Just went for a walk past the Lehman offices in Canary Wharf. Had to dodge the scrum of reporters outside taking pictures of everyone and everything.

No-one I know who works there is answering their phone.

 

[BSD]

Just went for a walk past the Lehman offices in Canary Wharf. Had to dodge the scrum of reporters outside taking pictures of everyone and everything.

No-one I know who works there is answering their phone.

That is really quite sad, and even more so as it is so totally unnecessary, this is really nothing to do with hindsight, it's just common sense that shoving credits down the throats of customers who can't afford them is an unsustainable business with a short half life.

I sincerely hope that our traders here who are at banks like GJ are OK and not affected by this mess...

 

[wasp]

I hope that our traders here who are at banks like GJ are OK and not affected by this mess...

Good point BSD, not seen him post for awhile...

 

[AeroZ]

This really is historic, I guarentee you guys that in a couple of years this will be looked back like we look back at LTCM in "When Genius Failed" and Solomon Brothers in "Liar's Poker." Hopefully what I really wish for is that they document it as well as they did in LTCM case; where we can get an insight into what actually is going on in the board rooms right now.

 

[MrGecko]

one thing that had me thinking re: black box algorythm's...

if enough banks go bust, or are bought out, does this leave so few players in the market that black boxes remove a bunch of volatility?

Take it to the extreme - if there are only two BB's competing with each other, is it possible that they just move the market between each other?

food for thought

 

[JTrader]

Ever noticed about how prety much everything is 'historic' these days alongside so many things 'making history'. Watch the news and other programs and you'll see what I mean.

If you were a regular watcher of the BBCs Olympic show at 7pm you'll know what I mean. Almost every event and every gold was history making. Sorry but some guy winning a gold in rowing where the world record wasn't even threatened is not history making. Most people have probably already forgotton it.

But when Bolt smashed those 2 records, now that was history making hence many people will remember it for a long long time.

Seems like the world has gone hype crazy which means when something major happens it's often a let down.

Yes i agree, its all hyped up too much these days. Me scratching my ass, is history making, fairly small scale stuff, but you get my point.

"Hype" is what leads to the "good" being labelled "great", far too often in sport/TV. Gordon Ramsay - the mans a sheer genius! He might be.....Or, he might just be a cocky OTT cook who likes killing endangered species such as Rooks & puffins

(As for Bolts records, the fact that Jamaica doesnt do randokm drug tests, and the fact that his best time last year of 10.03, and now is 9.69, as Carl Lewis says, in a sport with a tarnished rep. like athletics, you'd be a fool not to be slightly )

 

[MrGecko]

Yes i agree, its all hyped up too much these days. Me scratching my ass, is history making, fairly small scale stuff, but you get my point.

"Hype" is what leads to the "good" being labelled "great", far too often in sport/TV. Gordon Ramsay - the mans a sheer genius! He might be.....Or, he might just be a cocky OTT cook who likes killing endangered species such as Rooks & puffins

(As for Bolts records, the fact that Jamaica doesnt do randokm drug tests, and the fact that his best time last year of 10.03, and now is 9.69, as Carl Lewis says, in a sport with a tarnished rep. like athletics, you'd be a fool not to be slightly )

Of course, one must remain slightly suspect, given the countries sprinting performance. However, if one considers the popular image of Jamaican drug taking, it is frankly remarkable they could be bothered to turn up in the first place.

 

[fifty2aces]

Ever noticed about how prety much everything is 'historic' these days alongside so many things 'making history'. Watch the news and other programs and you'll see what I mean.

If you were a regular watcher of the BBCs Olympic show at 7pm you'll know what I mean. Almost every event and every gold was history making. Sorry but some guy winning a gold in rowing where the world record wasn't even threatened is not history making. Most people have probably already forgotton it.

But when Bolt smashed those 2 records, now that was history making hence many people will remember it for a long long time.

Seems like the world has gone hype crazy which means when something major happens it's often a let down.

I agree about things being overhyped, but I think people will remember the year that Bear Stearns, Fannie and Freddie were bailed out by the US Government, then Lehman Brothers went bankrupt on the same weekend that Merrill needed BoA to step in and save them, while AIG's future was dangerously uncertain. In finance, this is a pretty serious time, which won't be forgotten quickly.

 

[gooseman]

one thing that had me thinking re: black box algorythm's...

if enough banks go bust, or are bought out, does this leave so few players in the market that black boxes remove a bunch of volatility?

Take it to the extreme - if there are only two BB's competing with each other, is it possible that they just move the market between each other?

food for thought

if there are two players in the market there won't be enough lectricity to make them go.....

even better question-would they actually trade?

 

[JTrader]

Of course, one must remain slightly suspect, given the countries sprinting performance. However, if one considers the popular image of Jamaican drug taking, it is frankly remarkable they could be bothered to turn up in the first place.

Exactly! Thats why i moved here .

FWIW i think Bolt is the real deal. But thought the same of justin gatlin & marion jones a year or 2 back.

I agree about things being overhyped, but I think people will remember the year that Bear Stearns, Fannie and Freddie were bailed out by the US Government, then Lehman Brothers went bankrupt on the same weekend that Merrill needed BoA to step in and save them, while AIG's future was dangerously uncertain. In finance, this is a pretty serious time, which won't be forgotten quickly.

Definately.
Alex Jones' Prison Planet: The truth will set you free! - its all the news....

 

[Gumping]

I've heard from someone who knows someone etc etc.... who works at Lehmann.

Apparently everyone has been told that they are to leave immediately and will get no redundancy etc since the company is bankrupt.

 

[BSD]

Nightmare !