FreeTime Posted September 14, 2008 Report Share Posted September 14, 2008 If no new financing is found before Wall St. opens on Monday, the 4th largest investment bank in the USA could go under: http://news.bbc.co.uk/2/hi/business/7615712.stm Link to comment Share on other sites More sharing options...
junglesoup Posted September 14, 2008 Report Share Posted September 14, 2008 It is all but certain. Infact its been on the cards for months now, surprised how long they have went on. They have huge exposure to CDS and RMBS. They are highly leveraged...insane levels of leverage. They are counter party to a huge notional value of derivatives, I wonder how they will sort that mess out? Could be very nasty...I think the goldilocks Wall Street crowd dont know how bad it really is...perhaps they do now. Worst crisis since the Great Depression. Could get capitulation when the Tokyo,Oz, Hong Kong a market start to open...I hope the FED let them go under...they can't keep socialising these loses to the middle family taxpayer, and monetizing the losses. They should let all the banks go under and clear the system out...but they wont do that. Link to comment Share on other sites More sharing options...
Faustian Posted September 14, 2008 Report Share Posted September 14, 2008 Wise words JS. Link to comment Share on other sites More sharing options...
cavanami Posted September 15, 2008 Report Share Posted September 15, 2008 The Fed??? What a joke! The fed is a PRIVATE company that controls the cash money in the USA and prints money as they need to so as to LOAN it to the US gov at INTEREST!!! This system will ALWAYS keep the US gov in debt! It is total bull shit but the average US citizen has no idea how the Fed works. Of course the US politicians keep mum. After the Fed was created by JP Morgan, Prescott Bush and others, signed in by Pres. Wilson...Pres Wilson later said, "...this was the worst mistake ever made..." or words to that effect. Link to comment Share on other sites More sharing options...
Julian2 Posted September 15, 2008 Report Share Posted September 15, 2008 Gave me a nasty start there, I thought it was Lehmann's Winery. http://www.peterlehmannwines.com.au/Default.aspx?p=3 Link to comment Share on other sites More sharing options...
Torneyboy Posted September 15, 2008 Report Share Posted September 15, 2008 Meryl Lynch is shaky as well .. . Link to comment Share on other sites More sharing options...
chuckwoww Posted September 15, 2008 Report Share Posted September 15, 2008 BAC are pretending to buy Merrill. That should buy them some time. Link to comment Share on other sites More sharing options...
FreeTime Posted September 15, 2008 Author Report Share Posted September 15, 2008 Interesting Sunday so far. Update on the latest 44B deal noted above: http://www.msnbc.msn.com/id/26708958 Link to comment Share on other sites More sharing options...
chuckwoww Posted September 15, 2008 Report Share Posted September 15, 2008 I think it's a phony deal to buy time for Merrill. Bank of America shareholders won't go for it. Link to comment Share on other sites More sharing options...
Tiger Moth Posted September 15, 2008 Report Share Posted September 15, 2008 Being brave enough to show my ignorance in public: The FDIC ensures savings (banks only?) for up to $100M. So, even if the FDIC protected $100M, which I guess it doesn't, these are investment firms. So, won't there be a bunch of high end investors losing really big $$? Link to comment Share on other sites More sharing options...
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