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Lehmans
Comments
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Nicely wrested back on topic
Thanks. I used Johnny Wiesmuller as Tarzan for inspiration.So will today be the day that Lehmans do a Northern Rock then, I wonder?
It will be interesting to see if the Fed can magic up the cash for a bailout for them like they did with Bear Stearns and Fannie/Freddie. If they do, people are going to start questioning the value of Fed-issued dollars pretty soon.
I think there's a way to go before people start dumping dollars. Investors tend to dash for safety in bad times. That means US Treasuries. Where else can you go? It's not like all that Arab 'hot money' can go into Swiss Francs or Norwegian Krona or gold or something.And if all that comes to pass, what for the future of B&B and HBOS here in the UK? I'd be worried that gormless Gordon is going to use the US example as a template to start rescuing his chums in the square mile.
It will be most interesting to see how the public react to ever larger and more blatant cash handouts to banks at the same time that they are being squeezed with high food and energy prices and seeing non-banking businesses (maybe the one they work for) going to the wall as the recession bites.
I think B&B might well be a screaming buy. They have a lot of BTL assets on their books. BTL lending has the advantage of giving you, in effect, 2 properties that the mortgage is secured on. I certainly agree that bankers aren't the most popular group for Government largesse with taxpayer's hard earned money!Can Gordon make a bad situation worse? My money is on 'yes'.
As Ronald Reagan said, "The most frightening 9 words in the English language are, 'I'm from the Government and I'm here to help'."0 -
As Ronald Reagan said, "The most frightening 9 words in the English language are, 'I'm from the Government and I'm here to help'."
Except that is really 11 words. Explains a lot about Reaganomics.
EDIT: Of course that rings a bit hollow now after the FM/FM bailout, and Hurricane Katrina.Politics is not the art of the possible. It consists of choosing between the disastrous and the unpalatable. J. K. Galbraith0 -
Sir_Humphrey wrote: »Except that is really 11 words. Explains a lot about Reaganomics.
I was wondering that as I typed. Is I'm one word or 2? Clearly 'I am' is 2 words but 'I'm' is different.Sir_Humphrey wrote: »EDIT: Of course that rings a bit hollow now after...........Hurricane Katrina.
I think that was his point.
It's funny really, most Americans I would guess would rank Reagan pretty highly amongst C20th Presidents. Most Europeans wouldn't despite him turning around the US economy and winning the Cold War.0 -
Lehman still clinging to life ..... Die Another Day maybe.
http://news.bbc.co.uk/1/hi/business/7607678.stm--
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.0 -
DH called earlier from outside Lehmans and we played guess what it will be called next.0
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Sweet Fannie Lehmans.lostinrates wrote: »DH called earlier from outside Lehmans and we played guess what it will be called next.0 -
posh*spice wrote: »...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:
I'm sure I heard on the Radio today that OPEC have an unofficial policy of keeping oil at at least $100 a barrel...??
As for the main item on this thread, George will do whatever he can to keep it bouncing along until he gets out.... 0 -
mewbie, are you my DH???????0
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Apologies for off topic diversion.lostinrates wrote: »mewbie, are you my DH???????
I could be, lostinrates, I've been around a bit if you get my drift. mewbie's mum: actually he hasn't been anywhere, Dad and I are worried he'll never get a girl. He spends all his time on that computer.0 -
Apologies for off topic diversion.
I could be, lostinrates, I've been around a bit if you get my drift. mewbie's mum: actually he hasn't been anywhere, Dad and I are worried he'll never get a girl. He spends all his time on that computer.
ROFL, ok, you're not, (DH doesn't have a mum) but that was uncanny.:o
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