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Lehman Brothers teeters on verge of collapse as Barclays pulls out

Lehman Brothers teeters on verge of collapse as Barclays pulls out

Old Sep 15th 2008, 10:43 am
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by Charismatic
Will probably be downgraded three levels now .
Man United could become the third club without a shirt sponsor this season
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Old Sep 15th 2008, 10:52 am
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by Charismatic
Sounds like it. Even in the UAE eventually reality will bite.
It is already beginning to bite - hopefully won't fall as hard as the local stock markets.

Did you watch Emaar today? Battered down to 6.27 and then closed at 7.04 (presumably because Emaar stepped in to buy back some of its shares).


Originally Posted by Charismatic
Edit: Indie do you work in the financial services industry then? You seem very up-to-speed on current events.
Yes, I do (but in Risk Mgmt).

I better watch out, one of our Mods hates bankers
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Old Sep 15th 2008, 11:11 am
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by IndieG
It is already beginning to bite - hopefully won't fall as hard as the local stock markets.

Did you watch Emaar today? Battered down to 6.27 and then closed at 7.04 (presumably because Emaar stepped in to buy back some of its shares).




Yes, I do (but in Risk Mgmt).

I better watch out, one of our Mods hates bankers
And for a good reason!
Anyone who've worked in banking/consulting/investment etc knows that what is described in "Rogue Trader" is the deafening normality of people "playing" with others' money and being rewarded for it just on the base of the greed of their potential investors. Wasted money and resources, and it shows.I really hope a few of them will freeze their asses this Christmas, while I hope normal back-office employee will enjoy the solidarity of their peers, in tough times. People hate bankers, not secretaries D
IG: Still have to go Govinda on Friday, but me and my gentler one have found a very nice veg resto at the end of Rolla st, will post the name soon!
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Old Sep 15th 2008, 11:12 am
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Smile Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by IndieG
It is already beginning to bite - hopefully won't fall as hard as the local stock markets.

Did you watch Emaar today? Battered down to 6.27 and then closed at 7.04 (presumably because Emaar stepped in to buy back some of its shares).
I don't really watch markets day-to-day. I'm just a casual/amateur small investor always hunting for a good deal .
Originally Posted by IndieG
Yes, I do (but in Risk Mgmt).

I better watch out, one of our Mods hates bankers
Lots fo work for you at the moment then I'd imagine. Booze and hookers look like good investments today .

Last edited by Charismatic; Sep 15th 2008 at 11:25 am.
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Old Sep 15th 2008, 11:29 am
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by AlmostPregnant
People hate bankers, not secretaries D
IG: Still have to go Govinda on Friday, but me and my gentler one have found a very nice veg resto at the end of Rolla st, will post the name soon!
Aye - will keep that in mind. From now, I shall tell everyone I'm a secretary in Risk...lol.

Do I know you AP? Don't recall recommending Govinda's in a looooong time (may be over a year back?!).

Best Indie food - Ashiana - Sheraton. Chappan Bhog on Trade Centre is also very good.

Originally Posted by Charismatic
I don't really watch markets day-to-day. I'm just a casual small investor always hunting for a good deal .
Lots fo work for you at the moment then I'd imagine. Booze and hookers look like good investments today .
What risk? According to business, everything they do is either very low risk or 'practically' risk free.

Shall pass on your investment ideas to business - am not very popular with them these days
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Old Sep 15th 2008, 11:52 am
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Smile Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by IndieG
Shall pass on your investment ideas to business - am not very popular with them these days
I don't think they'll be excited by the prospect of investing in Coke, Tesco or GSK , they arn't a "synergy revolutionising paradigm" type affair . I love Peter Lynch's saying "Pick a company any idiot could run, because sooner or later one will", I'm simple folk so I tend to pick the companies I can understand .

As for advice being ignored, look at it this way...you hold on for now and get to tell them "I told you so" as they are forced to diversify on the way down .

HBOS is the clear choice for a sound, low risk investment for tomorrow .

ETA: Looks like the media have been paying attention, now how about we watch a nice run on the bank...say HBOS?

Last edited by Charismatic; Sep 15th 2008 at 11:56 am.
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Old Sep 15th 2008, 12:01 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by Charismatic
As for advice being ignored, look at it this way...you hold on for now and get to tell them "I told you so" as they are forced to diversify on the way down .

Oh, I'm not ignored.... Luckily for them they did heed my advice in 2006 and it saved their skins and lot of money. So have done a fair bit of gloating and "see, I told you so". 'Experts' so hate being reminded when they get it all wrong.....
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Old Sep 15th 2008, 2:17 pm
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Unhappy Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by Charismatic
Will probably be downgraded three levels now .
And that's half of their share value gone after a quarter of an hour of trading.
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Old Sep 15th 2008, 2:27 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

........it would now be interesting to see how the sharp drop in oil prices ($94 today) will affect Morgan Stanley and Goldman Sachs ........ .GS has come out of the sub-prime debacle largely unscathed.


http://www.bloomberg.com/apps/news?p...Zm4&refer=news

http://www.marketwatch.com/news/stor...30F12F2C764%7D

Last edited by IndieG; Sep 15th 2008 at 2:35 pm. Reason: added links...
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Old Sep 15th 2008, 5:25 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Amazing reading for amazing events...And we haven't even scratched the surface...
I think supply vs demand theory will kick off in Dubai soon re finance gurus and investment bankers...
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Old Sep 15th 2008, 5:34 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by IndieG
Aye - will keep that in mind. From now, I shall tell everyone I'm a secretary in Risk...lol.

Do I know you AP? Don't recall recommending Govinda's in a looooong time (may be over a year back?!).

Best Indie food - Ashiana - Sheraton. Chappan Bhog on Trade Centre is also very good.



What risk? According to business, everything they do is either very low risk or 'practically' risk free.

Shall pass on your investment ideas to business - am not very popular with them these days
Ah, I'm "almost pregnant" only at work! You still insisting with Ashiana?! No way, Chappan Bog I prefer. In a month I will be at "Indigo", have you tried it?
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Old Sep 15th 2008, 6:39 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by GrecoRomano
Ah, I'm "almost pregnant" only at work! You still insisting with Ashiana?! No way, Chappan Bog I prefer. In a month I will be at "Indigo", have you tried it?
Indigo??

Isn't that where Indie goes.......?
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Old Sep 15th 2008, 7:04 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by GrecoRomano
In a month I will be at "Indigo", have you tried it?
yeah, it's ok...if they ditched the really sad wine trolley it might be a whole lot better...

MM, xx
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Old Sep 15th 2008, 7:31 pm
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Default Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Originally Posted by Madam Medusa
yeah, it's ok...if they ditched the really sad wine trolley it might be a whole lot better...

MM, xx
Yeah...And speaking of Indigo, here's a snippet from Yahoo:
Filing for Chapter 11 protection allows a company to restructure while creditor claims are held at bay. The company most likely chose to file under Chapter 11, rather than a Chapter 7 liquidation, so that it could retain more control over the selling off of assets, said Stephen Lubben, the Daniel J. Moore professor of law at Seton Hall Law School. In a Chapter 7 filing, the court would immediately appoint a trustee to take over the case.

"I'm sure they think they could conduct a better liquidation themselves, and that's probably true," Lubben said.

The investment bank had said earlier that none of its broker-dealer subsidiaries or other units would be included in the Chapter 11 filing. That means customers of its broker-dealers will not be subject to claims by creditors in the bankruptcy case.

John Penn, a lawyer at Texas-based Haynes & Boone, said leaving some entities out of the bankruptcy filing allows the market to deal with them contractually rather than have the bankruptcy case "walk in and stop everything."

"There are so many types of securities vehicles that are carved out of bankruptcy protection completely," he said.

In its bankruptcy petition, Lehman listed Citigroup among its biggest unsecured creditors, with about $138 billion in bonds as of July 2. The Bank of New York Mellon Corp. was listed as holding about $17 billion in debt.

Lehman said that as of May 31, it had assets of $639 billion and debt of $613 billion.
http://news.yahoo.com/s/ap/lehman_brothers_bankruptcy
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Old Sep 16th 2008, 1:04 am
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Wink Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out

Lehman said that as of May 31, it had assets of $639 billion and debt of $613 billion.
Apparently Dick Fuld refused to allow potential investors access to a few very profitable assets. In addition he fired the CFO a few months ago, blaming her for the problems, but she’d been in the job less than a year. He also cut the deal with the Korea Development Bank where they where offering over $5b as a life-line type survival package.

I’m thinking the SEC might have a look at this .
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