chuckwoww Posted September 15, 2008 Report Share Posted September 15, 2008 Savings up to $100,000 are insured. You can increase that amount by opening different accounts. If they don't have money in offshore accounts most of the big investors would have their money in preferred stock or hedge funds or property. If they aren't diversified in things like commodities they've watched their capital dwindle lately. Link to comment Share on other sites More sharing options...
elef Posted September 15, 2008 Report Share Posted September 15, 2008 Lehman Bros files for bankruptcy The fourth-largest investment bank in the US, Lehman Brothers, has filed for bankruptcy protection, amid a growing global financial crisis. Lehman had incurred losses of billions of dollars in the US mortgage market. The chance that the 158-year-old institution could collapse increased sharply after the strongest potential buyers pulled out at the weekend. The move threatens to deal a further blow to the global financial system, as banks unwind their deals with Lehman. BBC Link to comment Share on other sites More sharing options...
Tiger Moth Posted September 15, 2008 Report Share Posted September 15, 2008 Alan Greenspan (born March 6, 1926 in New York City) is an American economist and was from 1987 to 2006 the Chairman of the Federal Reserve of the United States http://www.breitbart.com/article.php?id=080914181841.fsmkqu8s&show_article=1 Didn't the abuse that led to this develop "under Alan's watch"? Link to comment Share on other sites More sharing options...
elef Posted September 15, 2008 Report Share Posted September 15, 2008 What will happen today? Shares down 5-10 % USD down 5-10 % Or? Link to comment Share on other sites More sharing options...
cavanami Posted September 15, 2008 Report Share Posted September 15, 2008 Lucky me...I sold my Lehman stock some months ago and even at a profit :grin: Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 15, 2008 Report Share Posted September 15, 2008 Mother of all Mondays, the fabled Wall Street will never be the same again. Former US Fed governor Alan Greenspan describes it as a 'once in a century' event, and the 'worst' he's seen in his career. Financial commentators are talking about a tectonic shift that will change the face of the world's banking sector as markets world wide reel from the after effects of the triple shock of Lehman Brothers going into bankruptcy, Merrill Lynch being sold to BofA in a distress sale ($50 billion), and AIG asking the Fed for a $ 40 billion bailout. Link to comment Share on other sites More sharing options...
cavanami Posted September 15, 2008 Report Share Posted September 15, 2008 Azzhole Alan Greenspan was the one that started the farkin' down slide with all his interest RAISES!! This guy should be shot on sight!!!!!!! IMO Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 15, 2008 Report Share Posted September 15, 2008 I think what added fuel to the down slide is when Congress chabged the Bankruptcy laws in 2005 while under pressure from the credit card companies. Borrowing money became easier but nobody expected that people would file Chapter 7 bankruptcy and walk away from their homes. Link to comment Share on other sites More sharing options...
Stickman Posted September 15, 2008 Report Share Posted September 15, 2008 Azzhole Alan Greenspan was the one that started the farkin' down slide with all his interest RAISES!! This guy should be shot on sight!!!!!!! IMO Precisely. That the US's affairs are in such a shit state and it has had a dreadful knock on effect across the world is a heinous crime. So much goes back to Greenspan.... Link to comment Share on other sites More sharing options...
vinod Posted September 15, 2008 Report Share Posted September 15, 2008 Hi Lehman Files for Bankruptcy; Merrill to Be Sold. Within 10 mins., of opening Dow, LB lost 95% in trading and Merrill is taken over by Bank of America....the NYC Mayor is in closed doors holding meeting to figure the tax loss....... AIG needs capital by weekend... upto 40 billion.... if it does not get it will go in Chap 11. Man just think with these kind of money.... all tourists coming to LOS, can have a party.....for years to come.... cheers Link to comment Share on other sites More sharing options...
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