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Lehmans

Well it looks like Lehman Bros are going to be the next victims of the credit crunch:

link

rumours have been going round for a while and a sale of assets has been assumed to be their only realistic way to get out of their predicament.

Korea Development Bank has been the only named buyer and now they've pulled out there must be serious doubts over their future.
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Comments

  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    Conservator-ship ahoy cap'n..?

    Fannie, Freddie and Lehman - can't make up my mind whether it's a 70s folk group or a remake of the 3 stooges...
  • moanymoany
    moanymoany Posts: 2,877 Forumite
    Lehman should take a lesson from this ...

    http://www.youtube.com/watch?v=FJh1iBaeang

    The wonderful Janet Klein.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    So that was the recovery. Blink and you missed it. That must be the shortest session of treble gin and tonics all round for quite some time.
  • moanymoany
    moanymoany Posts: 2,877 Forumite
    mewbie wrote: »
    So that was the recovery. Blink and you missed it. That must be the shortest session of gin and treble tonics all round for quite some time.

    Shirley you mean treble gins and tonic? Maybe not, all fizz and no spirit!! That's the recovery that was, it's over let it go!!!

    Showin' me age now. :D
  • Lehmans are toast! WaMu,United Bank, are likely to head for failure very shortly.
    Poor folks in the US are getting used to the drill,
    lube up and bend over :shocked:
    Control is an illusion, chaos is the reality. A successful warrior dances with chaos, and success means simply that one is still alive.
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    Generali wrote: »
    Well it looks like Lehman Bros are going to be the next victims of the credit crunch:

    I'd put it differently - I'd say they were victums of their own greed and short-sightedness.

    Anyone know just how much money the Fed have available to give away or is Ben secretly already cranking the printing presses to max and hoping no-one notices?
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    Well done Bush, your multi-trillion dollar sure up lasted a day, amazing, just how do you keep managing such bottom feeding consistancy

    Bush, Fannie, sound like a couple of tw*ts to me.:D
  • posh*spice
    posh*spice Posts: 1,398 Forumite
    ad9898 wrote: »
    Well done Bush, your multi-trillion dollar sure up lasted a day, amazing, just how do you keep managing such bottom feeding consistancy

    Bush, Fannie, sound like a couple of tw*ts to me.:D

    Lol:rotfl: very rude:cool: but funny:rotfl:
    Turn your face to the sun and the shadows fall behind you.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    !!!!!!? wrote: »
    I'd put it differently - I'd say they were victums of their own greed and short-sightedness.

    Anyone know just how much money the Fed have available to give away or is Ben secretly already cranking the printing presses to max and hoping no-one notices?

    Total capitalisation of the Federal Reserve Boards is $800,000,000,000 I think (don't quote me but I think that's right) so that's the maximum amount they can lend to the banks at any one time. If they managed to loan the lot then presumably the Treasury would recapitalise them (changing any laws necessary along the way).

    FMx2 were taken on by the Treasury.
  • They just had a quick feature on Newsnight about Lehman Bros. Doesn't look good for them. Bear Stearns and now Lehman Bros. Where will it all end?
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