Remorse or No? For Lehman..

baby_boomer

!!!!!! - you underestimate the importance of the economy in this year's Presidential election IMHO.

Americans are not just stereotypes. Some are real people with ordinary concerns.

WTF?_2

baby_boomer wrote: »

!!!!!! - you underestimate the importance of the economy in this year's Presidential election IMHO.

Americans are not just stereotypes. Some are real people with ordinary concerns.

I hope so but with the popularity of Fox News and the fact that the use of the term 'Like putting lipstick on a pig' was elbowing serious debate off of the airwaves last week I'm not hopeful.

Remember that most people in the USA thought that Saddam Hussein was behind Sept 11th, many probably still do. And something like 10% of the US electorate think that Obama is a Muslim.

And they re-elected George Bush, even after all objective evidence pointed to him being a total imbecile who shouldn't be in charge of a milk float, let alone the World's only military and economic superpower.

dopester

!!!!!!? wrote: »

And they re-elected George Bush, even after all objective evidence pointed to him being a total imbecile who shouldn't be in charge of a milk float, let alone the World's only military and economic superpower.

They'd probably still re-elect him given some of the US forum outrage I read after Russell Brand fronted the US MTV VMA.

'But I know America to be a forward-thinking country because otherwise why would you have let that retard and cowboy fella be President for eight years?

http://news.bbc.co.uk/1/hi/business/7616318.stm

BBC interviewing City people this morning to camera... I hope these people aren't important in the City as quite a few trotted out superficial responses. "One in 50 or 100 year event" , "Recovery in 4 to 5 months, maybe a couple of years", "All depends on US housing market".

Best one was the woman, who perhaps didn't realise the extent of Lehman's downfall, "Well I think a lot of financial services are having a bit of trouble at the moment but hopefully it will be short lived because their our main client."

posh*spice

Hoist by their own petard - they were quite happy to turn everyone into debt peons, but eventually drowned in their own debts. You couldn't make it up.:undecided

fatpig_2

No sympathy for anyone of them. If they had any decency they'd give their inflated bonuses back from previous years.

wymondham

fatpig wrote: »

No sympathy for anyone of them. If they had any decency they'd give their inflated bonuses back from previous years.

Why should they? - they were encouraged to be as they are and make as much money as possible - it's called 'success'. In the same shoe's I'd probably do the same as would others I suspect. You can't blame the employee's - it has to be the system that's at fault?

tomstickland

The madness of bubbles is clearly still alive and well. I think that people must convince themselves that their personal reality makes sense. Often it is motivated by fear - don't look at the monster and then it won't exist. I think this is why people become so irrationally aggressive when challenged. I've seen it happen loads of times with house prices.

Regarding Lehman brothers. I just think that it's an inevitable consequence. They took the risks, now the bubble has to burst.

mr_magoo_5

How the mighty have fallen, and deservedly so.
I remember the Thatcher years and thought we had learned our lesson about greed and selfishness. How wrong was I, this last 10 years or so beggars belief.

[FONT=&quot]History sure does repeat itself[/FONT]

Dylanwing

I actually do have a bit of sympathy, SPML helped me when I needed it with a near-prime liar loan. The service was always good, and I'm glad that I have moved back to the mainstream.
The bad thing for the UK is that we have an indecisive Government that seems unable to face up to reality. Logic would suggest that they cut the luxury spending (ID Cards, Trident, Satellite tracking of cars etc.), and concentrate on basics to help ordinary 'Hard working families' survive the hard times. Sadly, no sign of logic. Also, will the recession turn European citizens even more against the bloated gravy train of the EU?

ManAtHome

wymondham wrote: »

it's called 'success'. In the same shoe's I'd probably do the same as would others I suspect. You can't blame the employee's - it has to be the system that's at fault?

Well it's 'sort-of' success - ramp up 50% in Q1/2 and drop 90% in Q3/4 rakes in the big bucks for everyone except the customers. But yes, if I had that mindset I'd be up for it like the rest of them - I don't, so no sympathy.