Are we in for another round of write-offs from Wall Street? That's what Susanne Craig argues in the Wall Street Journal's "Heard On The Street" column today. This time the losses are coming from a rebound in the mortgage markets. Banks that had shorted mortgages to hedge their long exposures are now finding their shorts have become "counter-productive."
The worst off, Craig writes, is Lehman Brothers, which is looking at write-downs of somewhere between $1.5 billion and $2 billion. That eats up almost half the $4 billon of capital Lehman was forced to raise when rumors spread that the bank might face a crisis. Morgan Stanley is a distant second, with less than half that amount expected.
Trouble Hid in the Hedges [Wall Street Journal]
Posted by guest , May 21, 2008 4:21PM
Callan admitted as much in her Playboy spread, I mean WSJ interview, this weekend
Posted by guest , May 21, 2008 4:24PM
Someone's getting whipped for pressing the "A" computer key button one too many times...
Posted by guest , May 21, 2008 4:30PM
Sounds like Callan's going to be doing a little spanking. There's probably a line forming outside her office right this minute. What do you guys generally prefer? Whip, paddle (brings back memories of those days in the frat house and all those homoerotic rituals you were all so fond of) or barehanded over the knee? GAnalYst
Posted by guest , May 21, 2008 4:49PM
LEH will certainly be looking for a fall-gal on this one.
As I read yesterday, too much TV face time, too much fashion, and too little face-time in her CFO office can't be too good for Erin's career at LEH.
I just didn't think that the hatchet-man would be looking for her so soon.
Set herself up beautifully, she did.
Damn, that picture of Erin's legs and pointy shoes has barely made it off the front page at db.
She'll soon be just another forgotten example of how women in business "suffer prejudice" from men in corporate America.
Maybe a little more eye makeup or lip gloss could help her out of this one?
Anybody remember Zoe, Zoe Who? from a few weeks back?
Check out today's db thread on Progress for Women on Wall St.
The Guy from Delaware
Posted by guest , May 21, 2008 6:00PM
what a mut.