Saturday, September 13, 2008

Many sounded dazed. “It’s over, man…unless we get bought out in the next 24 hours, it’s over,”

Possible Lehman buyers want the US government to socialize the risks

MATTHEW KARNITSCHNIG, CARRICK MOLLENKAMP, SUSANNE CRAIG and ANNELENA LOBB Wall Street Journal Fri, 12 Sep 2008 12:37 EDT The investment bank Lehman Brothers Holdings Inc. spent Thursday energetically shopping itself to potential buyers -- among them Bank of America Corp. -- just a day after insisting it had found a way to patch up its massive real-estate-related losses.

Posted by malct @ 10:16 AM (631 views)
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3 thoughts on “Many sounded dazed. “It’s over, man…unless we get bought out in the next 24 hours, it’s over,”

  • planning4acrash says:

    If Leman aren’t bailed, they will bring down the financial system, and, they are an Illuminist company, so will get total Fed backing. The amazing thing is the speed at which these meltdowns are occurring. Leman, just days after Freddy and Fanny. Total chaos. I think that the runs on gold and oil are to stock up to bail out Leman and possibly a couple more. Total meltdown for a completely criminal bunch of common thieves, counterfeiters and bandits.

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  • Let’s invoke Sarah Beeny, as reported in the Telegraph (see News Blog for article): the current crisis could have been predicted – “Three years ago it was really obvious that this was about to happen,” she says. “It’s very frustrating that you just have to sit back and hope that the Government or banks will sort it out.”

    So many people predicted all of this – not just perma-bear Jeremiahs, but people with good track records of TIMING their calls – that the bigger issue is obvious. Not whether the Government or banks will sort it out, but why they didn’t want to know on the way up, and they still deny that anybody could have known or predicted. The trouble is that such predictions were made by heterodox methods, when by definition the “establishment” will be based on orthodox methods. How do we get orthodox theoreticians to accept their theories are no good? Or do we just have to wait for them to get old and fade away? But then, how can we ensure that the next generation of the establishment will be any more enlightened than the present generation?

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  • They don’t care about enlightenment, all they care about is maintaining their status quo of wealth and priviledge.

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