David Faber, who nothing is ever good enough for, says no. Einhorn?
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
I’m confident the curtains will fall.
CLEARLY THE ANSWER IS NO!!! LEH HAS NO CREDIBIITY!!!
WHICH COUNTERPARTY WILL PULL THE PLUG ON THEM FIRST??
LET THE LEH BANK RUN BEGIN!!
If she took all the cr@p, level 3, subprime Alt-A stuff with her, yes, it instills confidence. Oh wait, she’s still employed at the firm…
im not so confident erin’s carpet matches the drapes.
Hilarious. The WSJ totally top ticked Callan. Her centerfold appeared in the WSJ weekend edition on 5/17. LEH closed 5/16 at 43.64, and has not closed higher since. It’s down about 50% from then.
What’s the lesson? The day Meredith Whitney poses in a full body shot it’s time to buy the fuck out Citigroup…
@ 9:34
Im less confident that her books match the real numbers at LEH!
the worst is behind us, the worst is behind us, you hear?
and ‘the spreads will converge, they always do.’
“dancing along the bottom”
etc.
According to a certain former CFO now on the buy side Lowitt isn’t really CFO material–he’s just the only guy left after Fuld fired all the accountants.
So, no.
I doubt he cares who he names CFO right now…it is all temporary till a sale of the firm or complete liquidation.
Dude is a tax accountant basically, probably the most important qualification for the CFO role these days.
But anyway wall street and commercial bank CFO is just code name for fall guy these days. Total revolving door something like 25+ have changed in financials int he past 18 months
@10:15 means former LEH CFO now on *sell* side, but same point.
ehh…i think LEH is pretty solid, but i am just going to pull my business — plenty of other firms out there that can do what they do.
They were just saying on CNBC that the bosses of firms don’t understand the risks their traders are taking. Sadly, way back in ’98 Lehman fired John Succo for saying the same thing:
“The trouble started when John Succo, trading manager at Lehman Brothers’ equity derivatives volatility desk, agreed to speak at an investment conference sponsored by Grant’s Interest Rate Observer.
After discussing the pricing of risk and the correlation between equity derivatives and the underlying stock market for a while, Succo was asked a question. “I don’t think my boss is here, so I’ll address that,” he responded. “I don’t think that the people running our firm, our equity floor, have any idea of the things that we actually do, of how we…(audience laughter) I’m serious…of how we hedge, the products that we’re involved with, the amount of risk we take or the lack of risk we actually take.”
He went on to describe a 26-year-old derivatives trader at a big bank who believed that his senior management’s understanding of the risks at the institution was “probably off by a factor of 10.” “And I think that’s probably pretty accurate. I think as I said before, management, if you’re making money, kind of leaves you alone until there is a crisis situation. And I don’t think that’s a way to run a firm.”
With or without Callan, LEH is f*@ked…. And anytime you have a tax accountant running corp. finance at an (I)-bank you are in A LOT of trouble! I don’t care how great an asset it is to have a tax acct. on your team.