Thursday, December 20, 2007

Lawyers get rich quick scheme!

Barclays lodges lawsuit against Bear

Christmas is coming for the lawyers! Barclays is filing a law suit against Bear Stearns over the failure of its hedge fund. Bear Stearns defends itself by saying "While we do not like to see investors or counterparties lose money, we believe this lawsuit is an attempt by Barclays to avoid taking responsibility for its own actions" I think next year big bonus will be to the lawyers and not the bankers. EA better get ready for some new customers - oh and make sure your property descriptions are correct otherwise you might be in trouble!

Posted by who stole my pension? @ 06:04 AM (666 views)
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3 thoughts on “Lawyers get rich quick scheme!

  • European-bear says:

    I am sure there will be plenty of miss-selling mortgage lawsuits when the crash is well underway…..

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  • The con men have been conned. Usually you would send round the heavies, this could get nasty.

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  • Nopensionnohouse says:

    Following the problems in the sub-prime lending market in America and the
    run on Northern Rock BS in the UK, uncertainty has now hit Japan.

    In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and
    Bonsai Bank announced plans to cut some of its branches.

    Yesterday, it was announced that Karaoke Bank is up for sale and will
    likely go for a song while today shares in Kamikaze Bank were suspended
    after they nose-dived.

    Furthermore, 500 staff at Karate Bank got the chop and analysts report that
    there is something fishy going on at Sushi Bank where it is feared that
    staff may get a raw deal.

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