Now banks are socialist?

Discussion in 'Wall St. News' started by niceneasy, Sep 14, 2008.

  1. Benevolent? Charitable? LEH gets split in two and they dump the "ooze" in a bad bank financed by banks/shareholders. In doing so, they avoid armageddon from the forced liquidation of LEH's assests and subsequent triggered markdowns in other banks derivative portfolios.

    How can these banks justify this on any level? How does this fall within a banks mandate? Can/will shareholders sue?

    Further, the banks ponying up the $ are on thin ice at best. WAMU to the rescue? MER? C? We are saved!!!

    May you live in interesting times indeed. I would love to be a fly on the wall of those meetings between LEH, FED, SEC, WAMU, BAC, C. They have essentially 7 hours to sew this thing up. I think they should send Jack Bauer in. Do his thing...

    Man - this just gets more and more messy by the minute...My head hurts...
  2. sprstpd


    Desperate times call for desperate (and totally idiotic) measures.
  3. zdreg


    as forrest gump said:when the shit is about to hit the fan
    do somethin'--
    even if it is wrong.
  4. hell they can all get rid of their armored trucks and security. No worries about bank robberies when they don't have any cash ;)