[Starvid]

They can let the company go bust. This will not, contrary to the F&F situation, destabilise the financial system.

There are too many investment banks anyway.

[cube]

$this->bbcode_second_pass_quote('EnergyUnlimited', 'I') think, taxpayers will pay. What else they can do? We shall see on Monday.

[Heineken]

$this->bbcode_second_pass_quote('Specop_007', '')$this->bbcode_second_pass_quote('drgoodword', '')$this->bbcode_second_pass_quote('Heineken', 'Y')eah, that says it all, Ludi.

The bigwigs running these bankrupt companies even get to keep their bloated compensation packages.

Socialism for the rich. That's what we have.

And the poor average dummies out there with the flag stickers on their cars play right along.

[EnergyUnlimited]

$this->bbcode_second_pass_quote('cube', '')$this->bbcode_second_pass_quote('EnergyUnlimited', 'I') think, taxpayers will pay. What else they can do? We shall see on Monday.

[cube]

$this->bbcode_second_pass_quote('EnergyUnlimited', '.')..
Again, I would love to find out you to be correct. Time will show....

[dorlomin]

$this->bbcode_second_pass_quote('Cid_Yama', 'T')reasury Secretary Henry Paulson is against any use of government money to bail out Lehman Brothers Holdings Inc., a person familiar with his thinking said Friday.

[ReverseEngineer]

$this->bbcode_second_pass_quote('dorlomin', '')$this->bbcode_second_pass_quote('Cid_Yama', 'T')reasury Secretary Henry Paulson is against any use of government money to bail out Lehman Brothers Holdings Inc., a person familiar with his thinking said Friday.

[dohboi]

The ante is upped for moral hazard and signals to the other banks. If they bail Lehman, there will be no question that Momma Fed will always pick up at least some of your mess no matter how recklessly the rich boys play.

If we bail out all these jerks, at what point does the world give up on us as a basket case not worth investing in?

Again, here's hoping that cube is right. But even it he is here, what kind of capitalism is it exactly when you have a 50% chance of being baled out if you make a lot of really bad and sleazy business decisions and the consequences catch up with you?

[Starvid]

$this->bbcode_second_pass_quote('EnergyUnlimited', '
')There is no wealth to redistribute left. Most of that what we are calling "wealth" now will fall into disrepair and ultimate ruin within several decades.
Mansions, SUVs, private jets, road network, cities, you name it...

[emeraldg40]

$this->bbcode_second_pass_quote('cube', '')$this->bbcode_second_pass_quote('yeahbut', '')$this->bbcode_second_pass_quote('Jotapay', 'S')he believes in an idyllic Shangri-La.

[TreebeardsUncle]

Theft is when a POOR BLACK BOY takes a pair of sneakers worth $75.

Progress (in the sense of creative destruction in the market, or the culling of the weaker players to strengthen the industry) is realized and executive compensation is given when a few dozen rich white guys execute a plan that leads to millions of foreclosures, the effective bankruptcies of companies, and hundreds of billions in losses.

Keep focusing on the indians, the french, the mexicans, the commies, the iraqis, the moslems, the other. The repulicans know that there are 10s of millions of pick-up-truck-driving country-music-listening gun-toting rednecks and white trash who will back them up when they appeal to their bigotry, and xenophobia. Then by keeping this constituency focused on external or internal enemies real or imagined they can keep them distracted from how they are being fleeced domestically and vocationally.
g

[ReverseEngineer]

What do you guys think of the "plan" being leaked out currently to split Lehman into two companies, one "good" company which gets all the good performing assets and the other one which gets all the "bad" mortgages and business loans? Barclay's Bank of Britain has generously stepped up to the plate to buy the Good Lehman Company, but who is going to buy the Bad Lehman Company?

According to the reports, Paulson is stonewalling the other investment banks and basically telling them they should divy up the bad assets and take them on. How stupid is that? These other banks ALREADY are loaded with bad assets, they need MORE of them? LOL.

I can imagine all these Clowns sitting around a Mahogany Table in the boardroom of the NY Federal Reserve Bank passing around this portfolio of $50B or who knows how much like it is a Hot Potato. "No you take it!" "No, YOU take it!"

Can somebody please put these guys out of their misery already? While I love a Clown Act, this is a Joke that has just gone on for too long now.

Reverse Engineer

[roccman]

The outlines of plans to determine the fate of Lehman Brothers Holdings Inc. emerged today even as it became increasingly clear that a clean sale of the entire firm to a big bank would be too difficult to execute.

Dead bank walking...

[roccman]

If Lehman collapses expect a run on all of the other broker dealers and the collapse of the shadow banking system

$this->bbcode_second_pass_quote('', 'I')t is now clear that we are again – as we were in mid- March at the time of the Bear Stearns collapse – an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Morgan and Citigroup). Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Friday and again today to convince them not to pull the plug on Lehman and maintain their exposure to this distressed broker dealer.

Let me elaborate in much detail on these issues…

[DantesPeak]

Roubini is right. Now the US government will step in to bail out Lehman, WaMu, and who knows who else to prevent a systemic financial meltdown.

Otherwise, they might as well close all the financial markets right now.

[roccman]

Independent of what the government does...

The global economy is current in a tail spin (by design) and will end only when a bone crushing thud is heard and felt around the world.

At this point it is all verbose.

[seahorse2]

The sheeple got "sidetracked" by that mere Cat 2 Hurricane Ike in the Gulf, when there is a Cat 10 financial hurricane hitting NY as we speak.

[RdSnt]

It's getting very close to October.

[ReverseEngineer]

$this->bbcode_second_pass_quote('seahorse2', 'T')he sheeple got "sidetracked" by that mere Cat 2 Hurricane Ike in the Gulf, when there is a Cat 10 financial hurricane hitting NY as we speak.

[beamofthewave]

So what are the implications of the collapse of Lehman? And what can I do to prepare, and does this mean I wont have to pay my mortgage anymore if the banks collapse?

Also thanks Roccman for your support last time.