The Financial Times reported this morning that Lehman Brothers held talks on a sale of up a fifty percent stake with China's CITIC Securities and the state-owned Korea Development Bank, but both investors walked away because the price was too high. CITIC is denying that it held any talks with Lehman, while an unnamed KDB official says the bank is scaling back its foreign investments.
A DealBreaker tipster gave us some vague, drunk-sounding and probably offensive insights into this story. "Got cornered by these two Asian investors at Muji Bar last night," he writes in an email. "They tell me that they passed on Lehman - concerns about their strength - say - 'Too Many Chinks In The Armor' or was it Too Little Chinks...or was it Two Chinks Go Into A bar And Tell me They Are Passing On Lehman...I can't remember - it was so late."
We know exactly how he feels. If your friend opens an absinthe bar and asks you to help out a bit before it opens, do not under any circumstances accept payment in free absinthe. We eventually figured this out but it was too late. Last night we were told about some high level departures at Lehman but our absinthe soaked mind quickly wiped out the information. Maybe the head of structured products? It was so late.
In other news, apparently the Fed is so concerned about the possibility that Lehman will suffer the fate of Bear Stearns it has begun calling banks to make sure they are not pulling business from the troubled investment bank. When it heard rumors that Credit Suisse was pulling out of Lehman, Fed officials called to check. Credit Suisse denied the story, of course. Skeptics will point out that the Fed's calls are likely to intimidate banks from pulling out of Lehman regardless of its financial viability and risk taking, perhaps encouraging risky behavior by Lehman and worsening the already existing moral hazard under which the bank operates.
[Editorial note: Some readers are objecting to our inclusion of the racially insensitive quote above. We decided to include it because it accurately reflects the tone of many of the remarks on this story we've heard. That is, there's a lot of racially insensitive blather about foreign investments in Wall Street. Pretending that this isn't how people are talking about this isn't helpful and creates a false impression of the situation. People are talking like this, and we think that should be reported.]
Posted by guest , Aug 21, 2008 8:45AM
Chick from Bloomberg Starting Bell is the hottest asian ever.
Posted by guest , Aug 21, 2008 8:53AM
Fact: CSFB stopped doing deals with Lehman a few years back... around the same time the CSFB stopped existing.
Posted by guest , Aug 21, 2008 9:01AM
Woo hoo, pictures of Carney!!!!
Woooooo. show us more, more! More Carney skin!!!
Yeah yeah baby, you're so hot, you're like a curry. Wooo!!! Nice ass (i think -can't really see it!!!!
Show us your toes next, oh baby, I bet you've got great big round toes!!!!
Bess, Bess, Bess, does Carney have GREAT toes? he does, right?
I knew it!
etc.
Posted by guest , Aug 21, 2008 9:01AM
OK, lets start early, please tell about your most embarassing mayo moment.
Posted by guest , Aug 21, 2008 9:09AM
are you that desperate for a post that you use a lame joke by an obvious racist?
Posted by guest , Aug 21, 2008 9:13AM
um, that's not insight, that racism from what sounds like a redneck.
Posted by guest , Aug 21, 2008 9:14AM
I once ruined the Thanksgiving mashed potatoes by putting too much mayo in them.
Posted by guest , Aug 21, 2008 9:28AM
Sliding down a slippery slope here. What is the slant on that Lehman story?
Posted by guest , Aug 21, 2008 9:30AM
dealbreaker should pull that joke. it's not enough to acknowledge that it's offensive. it adds nothing to the story, and it's not even funny.
Posted by guest , Aug 21, 2008 9:32AM
Best joke evel. I raughed and raughed.
Posted by guest , Aug 21, 2008 9:42AM
Lehman and Neuberger = tooo fo dolla
Posted by guest , Aug 21, 2008 9:45AM
"Best joke evel?"
That doesn't even make sense.
Posted by guest , Aug 21, 2008 9:46AM
It's only offensive to 90% of the analysts on the street. Seriously, like noone's heard far far worse in the pit on a daily basis? Bubble-wrap-me-now.
Posted by guest , Aug 21, 2008 9:48AM
@13-- it's offensive because it's not funny. wow, a chink the armor joke. it's a joke a backwater hick would make. if it were funnier it wouldn't be as stupid.
Posted by John Carney , Aug 21, 2008 9:48AM
@9: We're not here to create an illusion of a Wall Street where people are perfectly polite and never make racially insensitive jokes. As you can see from some of the other comments, there's a lot of this stuff going around.
Posted by guest , Aug 21, 2008 9:49AM
I think it was hilarious. Carney, don't even bother with the editorial-note-CYA-tactics. These fools are overly politically correct stiffs.
Posted by guest , Aug 21, 2008 9:51AM
6 & 14,
Rednecks and backwater hicks have civil rights (and feelings) too.
Bubba
Posted by guest , Aug 21, 2008 9:51AM
It's *NEVER* too late to short LEH.
Posted by guest , Aug 21, 2008 9:52AM
How many days before lehman stock starts trading in the single digits?
Posted by John Carney , Aug 21, 2008 9:55AM
@16: Thanks. We're feel a bit sensitive ourselves this morning, which is probably why we bothered with the editorial note.
Posted by guest , Aug 21, 2008 9:58AM
I like to think I balance my anti-asian insensitivity by avidly supporting the Bukkake pornography industry.
Posted by Lowly Assistant , Aug 21, 2008 9:59AM
Get a fucking life, you whiny bitches...and take some pictures.
http://www.youtube.com/watch?v=171FURqSIQc
Posted by guest , Aug 21, 2008 10:00AM
If you think that the racism is DB's fault, you clearly need to spend more time around bankers.
Posted by AJ , Aug 21, 2008 10:00AM
@17 Is it feelings or feerings?
And carney, don't listen to them
Posted by guest , Aug 21, 2008 10:01AM
Shit, why stop there then? Seriously Carney, this is a lame post. You just lost what little bit of journalistic integrity you had in my eyes.
Posted by guest , Aug 21, 2008 10:01AM
@23-- who said it was db's fault? it's db's fault for feelng the need to reprint some lame joke as though it's groundbreaking or insightful.
Posted by guest , Aug 21, 2008 10:01AM
Damn Mongowians. Just Reave Rehman Arone.
Posted by guest , Aug 21, 2008 10:12AM
Carney,
Don't hear the shit that these politically correct, sensitive, emotional pricks have to say about you. I completely believe in your journalistic integrity and your style. If these assholes don't like reading DB, let them take their eyeballs and mouse clicks else-where. You don't need them, Carney, as long as you have a captive audience and loyal following like us. Damm these PC fools.
You still rock Carney. You're awesome. In fact, can you let me know how I can work part-time for you?
#1 DB Fan!
Posted by guest , Aug 21, 2008 10:13AM
Bravo @21, gold.
Posted by guest , Aug 21, 2008 10:14AM
@28-- fuck being PC. the fact of the matter is that THE JOKE WASN'T FUNNY. not surprising coming from carney, but still.
Posted by guest , Aug 21, 2008 10:15AM
"People are talking like this, and we think that should be reported."
Flash: I heard some douchebag snicker "nigger on the trigger" at Merrill when Stan was getting fired. Perhaps we should have a three page feature on that with a 2 page disclaimer in italics to make sure we all understand that Carney is all about "journalistic integrity."
It's this kind of hard hitting, don't-back-away-reporting that puts DealBreaker at the forefront of electronic pulp trash.
This really solidifies my view that the humor on the site has been accidental. Really, Dealbreaker has been a developing center of excellence for financial investigative reporting all this time.
Well, actually, my grandfather laughed at the chink joke... and then proceeded to put Great Uncle Stew in stitches by managing 7.3 seconds of loud and uninterrupted flatulence. Unfortunately for Stew, that blew a clot out of his lung and he expired about ten minutes ago. The frothy blood leaking out of his dark-purple lips could barely conceal the smile though.
Still, way to go, shithead.
Posted by guest , Aug 21, 2008 10:16AM
30 - you have NO sense of humor whatsoever.
Posted by guest , Aug 21, 2008 10:19AM
@32-- i do, it's just a little more high-brow than jeff foxworthy.
Posted by guest , Aug 21, 2008 10:21AM
What about all the anti-asian humor against Loyd in Entourage? Is Ari gold racialistic? Should Entourge be banned? Should HBO office be sabotaged?
I mean come on guys. If it's on HBO it is funny, if it's on DB its not?
Posted by guest , Aug 21, 2008 10:27AM
These PC idiots are the reason you look at some of the real life incidents in 'sensitivity' training and go - What? Really? THIS is wrong???
I dont know where these people live but I work/hang around in fairly multi-cultural/multi-ethnic/multi gender/multi sexual orientation groups and jokes based on stereotypes are freely exchanged and laughed at (and they are funny).
Somehow I think those most offended are the ones who themselves live in their personal ghettos with folks their kind and think the whole world is being offensive to them.
Posted by guest , Aug 21, 2008 10:28AM
@34-- try and get the point, you blockhead: ari is FUNNY when he makes jokes about lloyd on entourage. as in, his jokes make people laugh. this was just stupid.
Posted by guest , Aug 21, 2008 10:31AM
Well, we can at least agree that the joke, whether funny or not or appropriate or not, killed any chance of valuable commentary. Sadly I feel the comments are better off with extra Mayo and hold the bigot - and I typically dislike Mayo.
Posted by guest , Aug 21, 2008 10:32AM
"People are talking like this, and we think that should be reported"...wow, really??? people are racist??? thanks for cluing us in, DB! I definitely did not know that until this post.
Posted by guest , Aug 21, 2008 10:32AM
Carney, your response in the comments basically amounts to "hey it happens, so we heartily approve."
You'll defend rumor reporting until you are blue in the face and inundate us with posts about its journalistic integrity (which I agree with), but you won't take a stand and not let your blog be a mouthpiece for racist idiots?
Jesus, grow a pair. Disappointing.
Posted by guest , Aug 21, 2008 10:33AM
@36 - Guarantee you're one of the ones @35 is describing in his last sentence.
@35 - You hit the nail on the head.
... And the post was indeed FUNNY.
Posted by guest , Aug 21, 2008 10:36AM
@21 & 28: What's next?!? Asian Bukkake?
Posted by guest , Aug 21, 2008 10:36AM
@40- I'm sorry that you can't tell the difference between quality humor (a la the material written for ari on entourage) and a hack job like this.
Posted by guest , Aug 21, 2008 10:38AM
hmm methinks if we took a poll of commenters here and asked for ethnic group of those who think it's ok vs. those who were offended, i think the ones that approve may lean toward the um, paler complexion. wild guess.
Posted by Master of None , Aug 21, 2008 10:41AM
1) We all know that Dealbreaker is in the rumor-reporting business
2) We all know that Carney isn't as funny as Bess
3) I hear worse from CNBC, Fox News, and CNN on a daily basis (in terms of ethno-racism and bad jokes), so let's not expect a fledgling media venture to stand up to take the high ground when it comes to journalism OR compete with HBO's best writers
4) Go back to work
Posted by guest , Aug 21, 2008 10:43AM
The real joke is that a storied wall street firm is looking to get bailed by asian (or middle eastern or maybe even african) banks....dust off the CVs as anyone who's not near the top is prime for firing. Maybe the redneck from the article will enjoy drinking dr. pepper on his breaks analyzing the drink orders of fat southern douchebags in Chick Fils A (or whatever the name of that hole is).
Posted by guest , Aug 21, 2008 10:45AM
@42: If you don't like the writing and think Carney/Bess and the collective commentary section is a waste of time why are you still here? F*cking go somewhere else!!!!
It is truly annoying when ppl write in bitching about the writing. Go away already.
Posted by guest , Aug 21, 2008 10:53AM
@39 "Carney..grow a pair." like that'll ever happen.
Posted by Anal_yst , Aug 21, 2008 11:06AM
calm the F down you nancies. its a joke, who cares if its a good one or bad, they were just relating what they were told.
Did the need to? Of course not, but who gives a flying f? If you don't like it, move on and stop your whining.
What'd none of you bitches rememeber that whole 'sticks & stones' schpeil from your childhood? Jeeze
Posted by guest , Aug 21, 2008 11:08AM
Can't we all just get awong.
Asian Wodney King
Posted by guest , Aug 21, 2008 11:12AM
@18,
Wow, there are shares available to short LEH again...
When the hell did that change? It was in lock down and call the lending desk every time I have tried to tap it lately...
Time to add more shares to the short... Now that the big surge is about done...
So many banks to short, so little equity to spread around...
Posted by guest , Aug 21, 2008 11:19AM
chink chink!
Posted by guest , Aug 21, 2008 11:30AM
FYI: Good luck to your friend. REAL Absinthe is still illegal in the U.S. Without the hallucinogens, one might as well drink Pernod.
Posted by guest , Aug 21, 2008 11:39AM
f#cker. That's like posting, "too many n^ggers in the armor," but you think it's pretty funny since its the acceptable minority to bash, dont you?
Posted by guest , Aug 21, 2008 12:05PM
Carney, I don't particularly like the slant in your post.
Pau Gasol aka lover of the chinese
Posted by guest , Aug 21, 2008 12:08PM
@52. Hear, hear!
Posted by guest , Aug 21, 2008 12:10PM
If it is true that Fed officials are calling around, I'm voting for Obama in November; there are no conservatives left and a Bush III (McCain) administration is likely to be in it thicker than the current one (witness his chief economic advisor, Phil Gramm, telling Americans to stop whining...would he ever dare to say that to Dick Fuld if he were at Treasury?).
Posted by guest , Aug 21, 2008 12:20PM
wait, people are still offended by the word chink? what is this, 1953?
Posted by guest , Aug 21, 2008 12:27PM
@35..it's stupid to be racist when you come begging to be saved. Hope you're not working at LEH or MER cause it won't be funny for employees there and their families if these companies can't raise the money.
Posted by guest , Aug 21, 2008 12:39PM
What are you people complaining about? No wonder Phil Gram calls us a 'nation of WHINERS'.
This is absolutely hilarious! well done Dealbreaker.
The others -- stop bitching and whining & moaning. Phil Grahm and John McCain won't be plesaed
Posted by guest , Aug 21, 2008 12:41PM
losers
Posted by guest , Aug 21, 2008 12:41PM
Leave it to Carney to screw up his ethnic slurs.Koreans aren't chinks....
Posted by guest , Aug 21, 2008 12:45PM
Caroline McCarthy is a bitch.
Posted by guest , Aug 21, 2008 12:48PM
62 - Who is Caroline McCarthy and why is she featured in this thread? Doesn't sound like a chinky name to me.
Posted by guest , Aug 21, 2008 12:57PM
Caroline McCarthy is Carney's girlfriend.
Posted by guest , Aug 21, 2008 1:05PM
carney's married
and caroline mccarthy is dating the dude who started tumbldouche.
Posted by guest , Aug 21, 2008 1:09PM
@54 hey Gasol..I see your wetback from playing too hard.
Posted by guest , Aug 21, 2008 1:30PM
People, people.
You are all so naïve.
It's august- people are on holidays- the page views and comments are waaaaaaaayy down.
Solution- race card.
Wait until some one manage to mention how funny Auschwitz was and boom!!!!
Good play JC good play
Posted by guest , Aug 21, 2008 1:39PM
67 The important people are on holiday. The spreadsheet humpers here are not.
My boss has been checking in at least 2x daily from East Hampton. I'm sure its an ego thing. We listen to him, his kids dont.
Posted by guest , Aug 21, 2008 2:01PM
@68 - Haha... spreadsheet humpers. I love it.
Posted by guest , Aug 21, 2008 2:08PM
69: 68 here. Can't take credit. Its a term I learned here. (Possibly the only thing I learned here...)
Posted by guest , Aug 21, 2008 4:14PM
John Carney is a tool! Mayo! In the ear! Up the nose!
Posted by guest , Aug 21, 2008 4:45PM
YOU'RE ALL MISSING THE JOKE - (Hint - it's not in the non-pc-part of this post)
Really, what is the average IQ of DB viewers?
Who cares about PC-ness -- Pay attention the really funny part...!!!
Posted by guest , Aug 21, 2008 5:06PM
72 Only have time to read it very quickly. Would appreciate it if you would enlighten us.
Posted by guest , Aug 21, 2008 5:06PM
72 Only have time to read it very quickly. Would appreciate it if you would enlighten us.
Posted by guest , Aug 21, 2008 5:08PM
and I swear i didnt double post. my hands must be shaking in acticipation
Posted by guest , Aug 21, 2008 5:55PM
Well, since we're using chink... can we also start using nigga? How about honky? Or kike?
I was at a bar and got suckered into buying these cheap-ass Jews some beers. Before you know it, they were talking about how they were Masters of the Universe and no fcking way would they sell their shit investment bank to a foreign country. Something about too many kikes in the oven? Oops, or was it... cooks in the kitchen... I forget in my drunken stupor... you know us dumb black niggas when we start drinkin that malt liquor... we turn into mexicants... can't do this or that. But yeah, drunk people talk like this all the time so it should definitely be reported.
Posted by guest , Aug 21, 2008 9:32PM
Simple solution here... write letters to Dealbreaker's advertisers indicating the site's position on racism. Without advertisers, this stupid site won't be around.
Posted by guest , Aug 21, 2008 10:03PM
And I'd recommend the big ticket advertisers:
- Expedia.com
- Dish network
- Network Solutions
You think they'd continue to advertise with someone who endorses racism? I don't think so.
Posted by guest , Aug 21, 2008 11:29PM
Racism is just not helpful.
Here's the deal. CITIC (the Chinese contingent) was never supposed to have entered into any discussions with Lehman without Beijing's approval. CITIC is now getting fucked by Beijing and they have come out denying they ever spoken to Lehman.
This is not the first time CITIC did something like this behind the backs of the powers-that-be in Beijing. They did that with Bear Stearns three years ago and were shut down by Beijing because Beijing felt they should have been consulted and deferred to on matters like these. Lucky they were shut down by Beijing that time.
Don't be surprised if there are some high level departures at CITIC in the weeks to come.
Posted by guest , Aug 22, 2008 10:27AM
"When it heard rumors that Credit Suisse was pulling out of Lehman, Fed officials called to check."
I guess you know the party's over when everyone starts "pulling out" of everyone esle.
Posted by guest , Aug 22, 2008 10:27AM
else.
Posted by guest , Aug 22, 2008 10:27AM
else.
Posted by guest , Aug 22, 2008 10:28AM
else.
Posted by guest , Aug 22, 2008 10:29AM
@ 79
Grow the fuck up. Razzing on someone's nationality is not "racism."
Geezus, all these bigshot walls street inch-dicks are so thin skinned.
get a life.
Posted by guest , Aug 22, 2008 10:30AM
"racism" -- the new witch hunt.
I guess we know who the Obamabots are.
Posted by guest , Aug 28, 2008 8:06AM
John,
The Chinese funds (and the Chinese products) seem to be everywhere these days.
Any thoughts on this? I would especially like to know if they have any chinks in their armor (apart from the ones who toil so loyally for WalMart et al) so that we Indians can combat them more effectively.
Ha Ha (or do I mean "Hu" "Hu"?)......
Rahul Gupta
P.S. Just waiting to hear from all those P.C. types......
Posted by guest , Aug 28, 2008 1:51PM
Would DealBreaker dare use the same kind of "jokes" directed at African Americans?
Why the double standard?
Posted by guest , Aug 28, 2008 1:54PM
@87-- carney would
Posted by guest , Aug 29, 2008 9:11AM
Dear John Carney,
TWO POINTS:-
(1) First, I think many have ignored (or chosen to ignore??) missed your words in the first line of the second paragraph (Capitalization mine)-
QUOTE "...vague, drunk-sounding and PROBABLY OFFENSIVE" UNQUOTE.
These are the words you have used to charcterize the comments.
You have fairly clearly disassociated yourself from these comments. So what is everyone getting so uptight about?
(2) Second, in my opinion the Chinese are so full of their self-importance nowadays (much of the said self-importance earned through their economic success on the back of foreign capital, sweatshops in a totalitarian society etc) that they have lost all sense of hunour vis-a-vis jokes directed against themselves.
They need to realize that being the biggest supplier of cheap products to the world does not entitle you to become touchy whiners constantly looking for real or imaginary slights to react to.
Rahul Gupta