Where were you when you heard Lehman Bros went bust?

Generali

Can you remember? We had a chat about it over drinks tonight.

Personally I was half way round a roundabout in Kent and it's probably just as well Mrs Generali was driving because I'd not have made it around the rest.

wotsthat

I don't remember

Honestly. It passed me by.

At that time I was more concerned with the collapse in sterling that started in July 2008 and massively increased the cost of goods that my company was buying. Long long hours trying to reduce costs, increase prices etc. etc. Probably was more significant if you were in the industry.

Mr._Pricklepants

I don't remember

I can't even remember what I did last Tuesday.

PasturesNew

I don't remember

Why on earth would I remember? I'd never heard of them before.... and I couldn't even tell you now who they were, what they did, when it happened or what went wrong.

All I could say was Lehman = some bank or something.

sabretoothtigger

^^ :laugh: unfortunately thats most of us

I didnt even know Lehman were that vital so its not like a big news event to more unknowing of us
I did hear about them previously , selling to Bank of Korea but how instead the CEO was an ego driven fool and said no.
They opened the markets on a Sunday to trade the Lehmans book, I knew that was a big deal then.

Cant remember otherwise. I shorted the FTSE not long afterwards and was staggered to lose big (to me) amounts of money, it was 5000 or so, 6 months later it was 3600.
Politics screwed me over, I closed my short too early because they said they'd save the day. Fooled me

Only QE has stopped what Lehman started (or represented), I think even that is temporary.
We will one day see an event exceed Lehmans, some greater crash is set to occur so far as I can tell. I hope we get some warning like did with this

2008_tremors wrote:

Lehman's clock is ticking

As a Korean bank signals interest in a deal, pressure mounts on CEO !!!!!! Fuld to do something fast.
By Roddy Boyd, writer
LAST UPDATED: AUGUST 22, 2008: 6:32 PM EDT

http://money.cnn.com/2008/08/22/magazines/fortune/lehman.sale.fortune/

tomterm8

I was scything in a field, removing bramble. It was hot.

dryhat

What a stupid and pointless thread.


Honestly Gen, dredging the remnants your drunken conversations and turning them into a poll is not a good idea and lowers the tone of an otherwise respectable board.

sabretoothtigger

Slight overreaction. It was a very important event, most of us are clueless to that even now. Lowers the tone :laugh:

ILW

To most outside the world of banking, it was of little interest.

PaulF81

I remember

On hpc whooping for joy.

Thrugelmir

What's a Lehman?

Northern Rock and Bradford & Bingley had been and gone by then. So another bank... Not great surprises.

At the time the others appeared seemed so secure and in financially good health. Yet the lifeboats were already being manned.