or because people think they have $138 billion, xp
http://money.cnn.com/news/newsfeeds/articles/apwire/09235743f9eb618fcbc1e721444cd77b.htm
― gabbneb, Wednesday, 17 September 2008 16:55 (fifteen years ago) link
actually guys I'm responsible because my comment yesterday set off a flurry of mean-spirited unamerican shorting
― TOMBOT, Wednesday, 17 September 2008 16:58 (fifteen years ago) link
not that i have anything invested in this question or anything
― gabbneb, Wednesday, 17 September 2008 16:58 (fifteen years ago) link
x-post -- You horrible man.
― Ned Raggett, Wednesday, 17 September 2008 16:59 (fifteen years ago) link
Forget shorting, I say it's time we start pantsing these motherfuckers
― Everything is Highlighted (Hurting 2), Wednesday, 17 September 2008 16:59 (fifteen years ago) link
douchebags require swirlies
― Mr. Que, Wednesday, 17 September 2008 17:00 (fifteen years ago) link
http://www.nytimes.com/interactive/2008/09/15/business/20080916-treemap-graphic.html
mouse-over fun!!
― TOMBOT, Wednesday, 17 September 2008 17:01 (fifteen years ago) link
aren't the remaining two big banks relatively free of mortgage stuff, so only getting hit by temporary, shallow all-ibanks-are-in-trouble losses?
The problems have spread beyond mortgage stuff. Liquidation of Lehman assets and ensuing fallout will depress prices of a wide range of assets of the types held by Morgan Stanley and Goldman. Combine that with the very high leverage ratios that these institutions still have, and you have a recipe for trouble.
― o. nate, Wednesday, 17 September 2008 17:03 (fifteen years ago) link
lol "mortgage stuff"
― TOMBOT, Wednesday, 17 September 2008 17:04 (fifteen years ago) link
I would like to point out that I have been otm in this thread
re Tom's comments about yr parents laughing at your newly downgraded lifestyles, as your ILX Grandpa I would be laughing now if I wasn't rent-poor.
― Dr Morbius, Wednesday, 17 September 2008 17:09 (fifteen years ago) link
the girls call me AIG cuz I'm too big to fail
― brownie, Wednesday, 17 September 2008 17:11 (fifteen years ago) link
that's good
― Everything is Highlighted (Hurting 2), Wednesday, 17 September 2008 17:15 (fifteen years ago) link
many rappers are now actively seeking words to rhyme with "mortagages", "derivatives", and "bailouts"
― Edward III, Wednesday, 17 September 2008 17:16 (fifteen years ago) link
Morbius you live in NYC.
― TOMBOT, Wednesday, 17 September 2008 17:21 (fifteen years ago) link
Nas: Wall street hustlas sellin collateralized mortgagesghetto children be feedin on meager porridges
Sample: Isn't it ironic... dontcha think?
― Everything is Highlighted (Hurting 2), Wednesday, 17 September 2008 17:24 (fifteen years ago) link
can you go back to worrying about your retirement plz
― TOMBOT, Wednesday, 17 September 2008 17:31 (fifteen years ago) link
my competition gets cranky as stone-throwin' primitivesbut they albums dropped just like lehman bros derivatives
― Edward III, Wednesday, 17 September 2008 17:42 (fifteen years ago) link
thank you goodnight
― Edward III, Wednesday, 17 September 2008 17:44 (fifteen years ago) link
suggest ban, xxxp
― gabbneb, Wednesday, 17 September 2008 17:49 (fifteen years ago) link
this works better
my competition gets cranky as stone-throwin' primitivesdroppin' off the charts like lehman bro's derivatives
ban me now before I rhyme again
― Edward III, Wednesday, 17 September 2008 17:51 (fifteen years ago) link
<img src="http://upload.wikimedia.org/wikipedia/en/f/f8/Young_Jeezy_-_The_Recession.jpg">
― Adam Bruneau, Wednesday, 17 September 2008 17:55 (fifteen years ago) link
tom, what grade level are you again?
― gabbneb, Wednesday, 17 September 2008 17:55 (fifteen years ago) link
http://upload.wikimedia.org/wikipedia/en/f/f8/Young_Jeezy_-_The_Recession.jpg
Goldman down 24%Gold up 10%
http://finance.google.com/finance?q=gs+gld
― o. nate, Wednesday, 17 September 2008 17:57 (fifteen years ago) link
no, that article is completely right, unless you have more than 100k in there― akm, Wednesday, September 17, 2008 12:36 PM (1 hour ago) Bookmark Suggest Ban Permalink
― akm, Wednesday, September 17, 2008 12:36 PM (1 hour ago) Bookmark Suggest Ban Permalink
What is my incentive for them to not fail vs. getting my money out and them failing? Also doesn't the FDIC not have enough cash to cover a WaMu failure and would have to wait for the gov to give them more? Fucking christ, you believe in FDIC?
― html tsar (Catsupppppppppppppp dude 茄蕃), Wednesday, 17 September 2008 18:04 (fifteen years ago) link
when the needle hits wax you go down like goldman sachsI hold gold while you fold, your cash crashed, credit maxed
o god plz stop me
― Edward III, Wednesday, 17 September 2008 18:05 (fifteen years ago) link
whoa am i not supposed to believe in fdic? i thought only old people didnt trust the fdic
― gr8080 (max), Wednesday, 17 September 2008 18:06 (fifteen years ago) link
it's been fairly common knowledge that the FDIC is underfunded and couldn't cover a major banking crisis, no?
― Edward III, Wednesday, 17 September 2008 18:09 (fifteen years ago) link
FDIC is cold like ice is, a glacier that will cover any crisis
― brownie, Wednesday, 17 September 2008 18:16 (fifteen years ago) link
guys the country is only ten trillion in the hole, we're okay.
― TOMBOT, Wednesday, 17 September 2008 18:17 (fifteen years ago) link
Hey so which banks are good? Should I go foreign owned (is HSBC actually foreign?)?
― html tsar (Catsupppppppppppppp dude 茄蕃), Wednesday, 17 September 2008 18:28 (fifteen years ago) link
hsbc is strongyes they are foreign
― sleep, Wednesday, 17 September 2008 18:29 (fifteen years ago) link
http://www.verlo.com/secure/822.images
― Mr. Que, Wednesday, 17 September 2008 18:30 (fifteen years ago) link
I just joined HSBC from HBOS last week ha
― -- (stet), Wednesday, 17 September 2008 18:30 (fifteen years ago) link
Morgan Stanley down 1/3rd of its previous worth
― Vichitravirya_XI, Wednesday, 17 September 2008 18:38 (fifteen years ago) link
this is the last supper, you better get your holy grail outI'll tax your ass harder than an investment bank bailout
― Edward III, Wednesday, 17 September 2008 18:41 (fifteen years ago) link
srsly stop it
― i am the small cat (HI DERE), Wednesday, 17 September 2008 18:42 (fifteen years ago) link
thanks, I needed that
suggestions for tomorrow's headlines
WHERE O WHERE IS THE BOTTOM
FALL FASHIONS: FLOOR IS THE NEW CEILING
― Edward III, Wednesday, 17 September 2008 18:46 (fifteen years ago) link
What is Jeb Bush's role in the Lehman Brothers meltdown?
Lehman Brothers was founded in 1850. The firm managed to get through the Civil War, WWI, and WWII, the Great Depression, and the attacks of September 11, 2001. Yet after hiring Jeb Bush in late August of 2007, the firm suddenly goes belly up in a year. It also should be noted that in 2006, George H. Walker IV was also hired by Lehman Brothers.
― Elvis Telecom, Wednesday, 17 September 2008 19:01 (fifteen years ago) link
Er.. okay
So now the Treasury Dept is bailing out the Fed itself? Can someone tell me this is business as usual or insignificant?
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/17/AR2008091701403.html
Fed Asks Treasury Dept. for Funds to Backstop Intervention EffortsBy David ChoWashington Post Staff Writer Wednesday, September 17, 2008; 12:55 PMThe Federal Reserve has requested that the Treasury Department deposit $40 billion with the central bank in an effort to help the Fed continue to stabilize the financial markets and address concerns about whether it is overstretched.
The Fed's extraordinary series of efforts to pump extra funds into the financial system and bail out such firms as American International Group and Bear Stearns with mammoth loans has depleted its store of Treasury bonds. The central bank will use the funds to offset the amount of money it has injected into the markets in its rescue efforts.
― Vichitravirya_XI, Wednesday, 17 September 2008 19:19 (fifteen years ago) link
Really this should be for the UK thread but anyway:
Andrew Lloyd Webber, the British composer, hopes to rush to the rescue of all those London bankers who recently lost their jobs in the turbulent financial markets. To brighten their days, Mr. Lloyd Webber decided to offer them free tickets to his shows.“I thought that free tickets might offer some respite, albeit for a couple of hours, for some of those people who have sadly lost their jobs in the current economic upheaval,” Mr. Lloyd Webber said in a statement on Wednesday. “Both ‘The Sound of Music’ and ‘Joseph’ are feel-good shows.”People will receive two free tickets for one of the shows between Monday and Thursday when they present their P45, a form handed out by companies to people they fire, at the box office. The offer is open until Oct. 15 and applies only to former employees of financial institutions in London who lost their jobs after Sept. 1.
“I thought that free tickets might offer some respite, albeit for a couple of hours, for some of those people who have sadly lost their jobs in the current economic upheaval,” Mr. Lloyd Webber said in a statement on Wednesday. “Both ‘The Sound of Music’ and ‘Joseph’ are feel-good shows.”
People will receive two free tickets for one of the shows between Monday and Thursday when they present their P45, a form handed out by companies to people they fire, at the box office. The offer is open until Oct. 15 and applies only to former employees of financial institutions in London who lost their jobs after Sept. 1.
― Ned Raggett, Wednesday, 17 September 2008 19:44 (fifteen years ago) link
let them eat showtunes
― Edward III, Wednesday, 17 September 2008 19:47 (fifteen years ago) link
Washington Mutual up for auction.
― Ned Raggett, Wednesday, 17 September 2008 20:07 (fifteen years ago) link
They should try ebay.
― Nicole, Wednesday, 17 September 2008 20:09 (fifteen years ago) link
Read my mind.
― Ned Raggett, Wednesday, 17 September 2008 20:10 (fifteen years ago) link
this country needs a maverick who will put banks up on ebay
― Edward III, Wednesday, 17 September 2008 20:12 (fifteen years ago) link
raggett / nicole '08
― Edward III, Wednesday, 17 September 2008 20:13 (fifteen years ago) link
I have the glasses.
― Nicole, Wednesday, 17 September 2008 20:13 (fifteen years ago) link
ned has the experience
― Edward III, Wednesday, 17 September 2008 20:14 (fifteen years ago) link