Lehmans

pizzagirl

Also from FT:

American International Group led the fall-out from deepening uncertainty over Lehman Brothers’ ability to strengthen its balance sheet, amid fears it too could struggle to raise fresh capital if so required.

The world’s biggest insurer, which has heavy exposure to the mortgage markets, suffered more than $12bn in writedowns and credit losses in the last quarter. The shares dropped 19.3 per cent to $18.37.

Generali

pizzagirl wrote: »

Also from FT:

American International Group led the fall-out from deepening uncertainty over Lehman Brothers’ ability to strengthen its balance sheet, amid fears it too could struggle to raise fresh capital if so required.

The world’s biggest insurer, which has heavy exposure to the mortgage markets, suffered more than $12bn in writedowns and credit losses in the last quarter. The shares dropped 19.3 per cent to $18.37.

The credit crunch has a very long way to go yet. That's another bunch of people that'll lose their bonus or even their job.

amcluesent

There's toxic waste everywhere...but no-one knows exactly where due to the re-re-re-re-re-re-packaging that was done to keep the scam going and everyone in bonuses.

Exactly the same as the Great Depression, when layers of leveraged positions were unwound; each drop of the bear market triggered margin calls which bankrupted peeps out who *thought* they were save as they'd got in early bon the way up. 80%+ hair-cuts all around I fear.

posh*spice

...and now OPEC are gonna reduce production by 520,000 barrels a day in the next 40 days_pale_, just when something seemed to be moving in the right direction

doomed...:rolleyes:

pizzagirl

UK bank shares didn't plunge today. I thought they would given the total carnage in Lehman Bros. shares yesterday.

Dithering_Dad

It doesn't matter any more, as soon as this:

http://news.bbc.co.uk/1/hi/sci/tech/7604293.stm

gets going in anger, we're all doomed anyway. Death by black hole, big bang or dark matter - make your choice.

lostinrates

Its alright DD, I think they ran the experiment much earlier this morning, half eight or something. So we are still all here....

steadysaver

lostinrates wrote: »

Its alright DD, I think they ran the experiment much earlier this morning, half eight or something. So we are still all here....

So far they have only fired protons around in one direction around the loop. Kind of a warm up. They have not started the "collissions" yet. Probably next week.

By the way these types of collissions happen all the time in the upper atmopshere so not much to worry about.

But anyway, back to banking...... oh b$%£&r

Dithering_Dad

lostinrates wrote: »

Its alright DD, I think they ran the experiment much earlier this morning, half eight or something. So we are still all here....

Yep the article says that, though I don't think the thing is running in earnest just yet. I think they just have an electron stream going round the full circumference. I thought the bit about the Heineken bottles was quite amusing.

Getting back to the economy, I see that the leading indices are all back down again. I was hoping for a couple of days good news so that I could move my pension fund to 'cash'. No such luck

Sir_Humphrey

My understanding is that the collider recreates natural phenomena, but in a particular location where they can be observed, and 100m underground, so no other collisions can interfere with the experiment. i.e just recreating what happens anyway but in controlled conditions.

That is why they don't just look at the naturally occuring collisions.

Still, I don't understand why people would want to make mischief by claiming it will destroy the world. Either they end up wrong and look like fools or...well they wouldn't be in a position to gloat would they? Berks.