Lehmans

Generali

According to The Times today, it turns out that the Lehmans pension scheme is £100,000,000 underfunded.

Talk about not mending the roof while the sun shone!

sabretoothtigger

Dithering_Dad wrote: »

It's interesting how this is the opposite of what happened in the Great Depression. Will it really make a difference to their finances though?

Thats a good thing and hopefully it wont last or become 'great'

napoleon

Generali wrote: »

According to The Times today, it turns out that the Lehmans pension scheme is £100,000,000 underfunded.

!

Not to worry, they can always apply for Pension Credit.

Generali

napoleon wrote: »

Not to worry, they can always apply for Pension Credit.

The Times implied they would pretty much wipe out that pension refinancing fund (can't remember the name).

Remember for every highly paid trader there were probably 10 low paid ancillary, support and back office staff.

Woby_Tide

Generali wrote: »

Typical investment bank back office employee is on about £20-40k pa plus health insurance, season ticket loan and gym membership. Bonus would be 5-25% typically.

3-15% more like nowadays

or 0% this year probably....

Generali

Woby_Tide wrote: »

or 0% this year probably....

If they're lucky. I suspect that a few banks will be asking employees if they want redundancy or a pay cut this year.

edwinac_2

Generali wrote: »

I'd pick my sources a bit more carefully if I was you! LaRouche is a sort of neo-Marxist lunatic.

He claims (amongst other things and as far as I can tell) that the US Government is run by a sort of shadowy coalition of the FBI and the Communist Party USA under the malign influence of the British establishment and that global warming is caused by cosmic rays emitted from the Crab Nebula.

You do spew fanciful nonsense! Have you left the lid off the glue again?!

I have read Executive Intelligence Review for nearly two decades, and I have never once seen any such rubbish printed in it.

You are regurgitating propaganda that you were unwittingly fed by the Ford Foundation, one of LaRouche's arch-adversaries. Otherwise, LaRouche is certainly respected.

For example, the former Reagan advisor and National Security Council analyst, Norman Bailey, told the Washington Post that LaRouche has "one of the best private intelligence services in the world."

Bailey added, "they can operate more freely and openly than official agencies. They do know a lot of people around the world. They do get to talk to prime ministers and presidents."

Here we see LaRouche chatting informally with Ronald Reagan.

Do you think Reagan would share the stage with him if he really was a "neo-Marxist lunatic", as you claim?!

For what it is worth, the article I posted was actually authored by John Hoefle, and NOT by Lyndon LaRouche. But don't let facts spoil your argument!

Back to the Reuters scandal, though...

Is there anything you want to say about the numerous fake stories the financial "news" agency has been pumping out lately?

That scandal was, after all, a topic of Hoefle's article....

How do you feel about those Lehman shareholders who were fooled by Reuters' phony reports?

Don't you pity the investors who were falsely reassured by Reuters that KDB was going ahead with its buyout of Lehmans, and on that basis decided not to sell their stock?

I bet they wish now they had read EIR instead of the Reuters' newswire!

Comments?.......

Generali

edwinac wrote: »

You do spew fanciful nonsense! Have you left the lid off the glue again?!

I have read Executive Intelligence Review for nearly two decades, and I have never once seen any such rubbish printed in it.

You are regurgitating propaganda that you were unwittingly fed by the Ford Foundation, one of LaRouche's arch-adversaries. Otherwise, LaRouche is certainly respected.

For example, the former Reagan advisor and National Security Council analyst, Norman Bailey, told the Washington Post that LaRouche has "one of the best private intelligence services in the world."

Bailey added, "they can operate more freely and openly than official agencies. They do know a lot of people around the world. They do get to talk to prime ministers and presidents."

Here we see LaRouche chatting informally with Ronald Reagan.

Do you think Reagan would share the stage with him if he really was a "neo-Marxist lunatic", as you claim?!

For what it is worth, the article I posted was actually authored by John Hoefle, and NOT by Lyndon LaRouche. But don't let facts spoil your argument!

Back to the Reuters scandal, though...

Is there anything you want to say about the numerous fake stories the financial "news" agency has been pumping out lately?

That scandal was, after all, a topic of Hoefle's article....

How do you feel about those Lehman shareholders who were fooled by Reuters' phony reports?

Don't you pity the investors who were falsely reassured by Reuters that KDB was going ahead with its buyout of Lehmans, and on that basis decided not to sell their stock?

I bet they wish now they had read EIR instead of the Reuters' newswire!

Comments?.......

I don't claim anything as such, I maintain the source is dodgy. Do you have a link to the Reuters piece by any chance?

Most of the EIR stuff is published in PDF format, is 10-20 pages long and can't be searched using Adobe and frankly life's too short to be bothered to wade through it to see if I'm right or wrong.

If I'm wrong then I'm sorry to have thrown a baseless accusation at someone you clearly hold in very high regard. Frankly he seems like a loony and beyond that I'm not fussed.

edwinac_2

Generali wrote: »

Do you have a link to the Reuters piece by any chance?

Which Reuters' story is this? The one that artificially drove up Lehman's price? Since the dirty deed is done, I suspect they've pushed it down the memory hole. I haven't looked. Maybe Google has preserved a record.

Most of the EIR stuff is published in PDF format is 10-20 pages long and can't be searched using Adobe

Almost every EIR article is published in both HTML and PDF. While some EIR reports run to hundreds of pages, others are just one or two pages. Search of EIR articles works fine, both in HTML and in Adobe Reader (v.8)..

and frankly life's too short to be bothered to wade through it to see if I'm right or wrong. If I'm wrong then I'm sorry to have thrown a baseless accusation at someone you clearly hold in very high regard. Frankly he seems like a loony and beyond that I'm not fussed.

Well, that's your prerogative.

Which is a shame, because there is some excellent material published by EIR.

For example, here are a couple of excellent reports on the Global Warming Hoax since that appears to interest you...

What Really Causes Climate Change?

The Fraud of Global Warming- True C02 Record Buried Under Gore

Global Warming: Science vs.Nonsense

As every schoolboy learns, the yearly variation of the seasons is not caused by the change in the Earth’s distance from the Sun, but by the inclination of the Earth’s axis, which causes the Sun’s rays to strike the Earth at an oblique angle, in a manner that varies as the Earth makes its annual path of revolution about the Sun.

Were there no axial inclination, there would be no difference of seasons and a much slighter variation in temperature from the Equator to the high latitudes. But the Earth’s axial tilt, known technically as the obliquity of the ecliptic, changes on a 40,000-year cycle from 22 to 24.5 degrees. The more inclined the Earth is, the more extreme are the variations between Summer and Winter, particularly in the high northern latitudes where the cycle of glaciation is to be triggered. Apart from obliquity, two other astronomical cycles which affect insolation were known:

� the 26,000-year period of the precession of the equinox, which, when combined with the advance of the perihelion (the point at which the Earth is closest in its orbit to the Sun) produces a 21,000-year cycle;

� the 90,000 to 100,000-year cycle of variation of the eccentricity of Earth’s elliptical orbit.

Much more at the links above.. Enjoy!

poppy10_2

edwinac wrote: »

You do spew fanciful nonsense! Have you left the lid off the glue again?!

I have read Executive Intelligence Review for nearly two decades, and I have never once seen any such rubbish printed in it.

You are regurgitating propaganda that you were unwittingly fed by the Ford Foundation, one of LaRouche's arch-adversaries. Otherwise, LaRouche is certainly respected.

Just had a look at his own website. He claims the British led the invasion of South Ossetia, that Al Gore is an "evil British agent of genocide, " the British have deliberately engineered the current economic crisis to satisfy their imperial ambitions over the USA, as well as the recolonizing the rest of the world, and that Hitler was just a scapegoat.

He's a fruitcake. And that's coming from a qualified psychiatrist .