Lehman Brothers teeters on verge of collapse as Barclays pulls out
#17
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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
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 better watch out, one of our Mods hates bankers
#18
Banned
Joined: May 2008
Posts: 51
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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
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
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!
#19
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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.
#20
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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.
Shall pass on your investment ideas to business - am not very popular with them these days
#21
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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.
#22
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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.....
#24
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
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...
#25
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...
I think supply vs demand theory will kick off in Dubai soon re finance gurus and investment bankers...
#26
Banned
Joined: Jan 2007
Location: Holland, luckily!
Posts: 223
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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
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
#27
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
#29
Re: Lehman Brothers teeters on verge of collapse as Barclays pulls out
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.
"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.
#30
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.
I’m thinking the SEC might have a look at this .