• 11 Sep 2008 at 10:40 AM

Lehman Finished By Tomorrow? Goldman Putting Pity Offer On The Table?

By

Dick Fuld chaining himself to his desk to “send a message”? Who knows! It’s all the shit of a bull until it’s not but according to Naked Capitalism:

A couple friends of mine from LEH trading desk called me this a.m. to say that mgmt has taken employees aside to let them know that the end should come in next 24-48 hours. Ratings agencies apparently told them that the steps were not sufficient to prevent a d/g, and LEH mgmt asked them to hold off for a day or so to give them a chance to resolve situation (with sale of company).
Apparently GS is willing buyer, but is buyer of last resort from LEH’s perspective, b/c they would keep very few LEH employees.

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    Comments (32)

    1. 1
      Posted by guest | September 11, 2008 at 10:44 AM

      o puhleeze.

    2. 2
      Posted by guest | September 11, 2008 at 10:45 AM

      they should go out with a bang…put some anal action on it with the caption:
      “we got ass-fucked”

    3. 3
      Posted by guest | September 11, 2008 at 10:46 AM

      they should go out with a bang…put some anal action on that display with the caption:
      “we got ass-fucked”

    4. 4
      Posted by guest | September 11, 2008 at 10:47 AM

      The Evil Empire will continue to grow.

    5. 5
      Posted by guest | September 11, 2008 at 10:49 AM

      So OK. Now – Who is Next?

    6. 6
      Posted by guest | September 11, 2008 at 10:51 AM

      http://www.reuters.com/article/newsOne/idUSSP12411420080911?pageNumber=2&virtualBrandChannel=0
      I’m assuming this is how Wharton Chick paid for college.

    7. 7
      Posted by guest | September 11, 2008 at 10:51 AM

      MS is next

    8. 8
      Posted by guest | September 11, 2008 at 10:55 AM

      buying the headquarters for $1.3billion, NB for $700mm??!?

    9. 9
      Posted by guest | September 11, 2008 at 10:55 AM

      WaMu

    10. 10
      Posted by guest | September 11, 2008 at 10:57 AM

      buying the headquarters for $1.3billion, NB for $700mm??!?
      You are pretty close. Its the other way round. NB at abt $1.5bio and rest 700mm

    11. 11
      Posted by guest | September 11, 2008 at 10:59 AM

      Quoting from the NC article…
      “Lehman was cut to “hold” from “buy” by Citigroup Inc. analyst Prashant Bhatia and the firm was reduced to “no opinion” from “neutral” by Merrill Lynch & Co. analyst Guy Moszkowski.”
      Question- If you work in the “research” department of an IB, do you formally acknowledge that your job has absolutely zero worldly use? Do you guys actually occasionally produce something of value and just keep it in house for the trading desks? Or do you stand in front of the mirror every morning and say to yourself, “Today is yet another day I change the life of no one.”

    12. 12
      Posted by guest | September 11, 2008 at 11:00 AM

      Wamu done by Rosh Hashanah
      Can someone go after AIG for me?

    13. 13
      Posted by guest | September 11, 2008 at 11:01 AM

      @6
      Which is more probable:
      (i) she is a virgin or (ii) LEH marked their subprime assets to $0.22 (market) yesterday?

    14. 14
      Posted by guest | September 11, 2008 at 11:02 AM

      11, haha!

    15. 15
      Posted by guest | September 11, 2008 at 11:05 AM

      Or about $2.50 – 2.80 a share for LEH. Stock is still trading 35- 40% above that.
      No way WM makes it until September 29th – no Way.
      After leh and wm maybe it is time for AIG?

    16. 16
      Posted by AJ | September 11, 2008 at 11:06 AM

      @11 Can’t stop laughing. I love the “no opinion”. That might be the worst.

    17. 17
      Posted by guest | September 11, 2008 at 11:09 AM

      incidentally, how come all the master-of-the-universe traders here didn’t object to the phrase “pity offer” when it’s really a bid?
      Oh, too busy moving worlds, I guess…

    18. 18
      Posted by blndebnker | September 11, 2008 at 11:11 AM

      @11
      Or do you stand in front of the mirror every morning and say to yourself, “Today is yet another day I change the life of no one.”
      That’s awesome dude. HA.

    19. 19
      Posted by guest | September 11, 2008 at 11:14 AM

      Lehman lays off 8,0000
      http://www.nypost.com/seven/09112008/business/lean_man_brothers_128567.htm

    20. 20
      Posted by guest | September 11, 2008 at 11:16 AM

      “the end is coming” ? are you fucking kidding me? ppl talk as these are some kind of emotional issues. get a clue. the lot of them is a bunch of brownnoses ivy league pricks who step on each other throats cuz they can’t make a honest living by themselves. good riddance.

    21. 21
      Posted by guest | September 11, 2008 at 11:16 AM

      @11 – that line will make a great Bloomberg header

    22. 22
      Posted by guest | September 11, 2008 at 11:22 AM

      Wall St = Big 6
      Say goodbye to big pay.
      -In Bulge for 18 yrs

    23. 23
      Posted by Tapecracker | September 11, 2008 at 11:23 AM

      Dick Fuld will soon be on the receiving end of a brutal ass beating… think of Screech getting Kimbo Slice for a cell mate.

    24. 24
      Posted by guest | September 11, 2008 at 11:23 AM

      Remember when Mary Meeker looked the other way as Ariba went from $178 to $4? Then and only then did she downgrade the stock to sell. Using mom and pop as the exit strategy for institutions. Hells hottest fires are waiting for that bitch.
      Don’t worry folks we’ll be going through this again in the next 10 years. Same bat time same bat channel just a different name.
      SPODE

    25. 25
      Posted by guest | September 11, 2008 at 11:28 AM

      Raymond James mkt cap > Lehman Brothers
      Moving to St. Pete to bang pink pussy

    26. 26
      Posted by guest | September 11, 2008 at 11:34 AM

      @ 11…wow.
      So I should have bought LEH yesterday according to Shiti?
      All you analysts are worthless. Fire 90% of the lot and make that job require a CFA. Add a new title like “Coffee Monkey and News Reader” for the new grads.

    27. 27
      Posted by guest | September 11, 2008 at 11:42 AM

      I can’t believe they are still floating!!!!
      well that are some type of shit that floats anyway

    28. 28
      Posted by guest | September 11, 2008 at 11:52 AM

      @22,
      I don’t get the bugle comment.

    29. 29
      Posted by guest | September 11, 2008 at 11:53 AM

      @22, 28 here….
      sorry read your post a little too fast.
      I hope you hit the ground running.

    30. 30
      Posted by Anal_yst | September 11, 2008 at 12:23 PM

      @ Spode
      2nd intelligent comment I’ve seen from you, keep it and you might actually start to get some respect around here!

    31. 31
      Posted by guest | September 11, 2008 at 12:52 PM

      DAVID EINHORN JUST BLEW A LOAD IN ERIN CALLAN’S FACE.

    32. 32
      Posted by Bristol Airport Hotels | April 19, 2012 at 1:59 AM

      Ym6u8u Thanks for the blog post.Really looking forward to read more. Keep writing.

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