For a second day in a row, Lehman Brothers shares are getting pounded downward. The stock is off 30 percent as we file this entry, and had traded as low as $8 a share earlier this morning.
There are several conflicting reports rumors floating around that may be helping fuel the panic. Earlier, the Wall Street Journal reported that Korean regulators said talks between Lehman and the Korea Development Bank had ended. The KDB had reportedly been in on and off again talks about acquiring a stake in Lehman for weeks. A later report from Reuters denied this and Korean regulators denied they have commented on developments between KDB and Lehman.
The confusion certainly seems to be scaring off buyers. There is also a lot of speculation that Lehman may be permitted to actually collapse by a government concerned about moral hazard in the market following the rescues of Bear Stearns and the GSEs. Here’s John Jansen’s analysis:
There is some talk that they might truly be compelled to fold as the Treasury is currently busy frying other fish. They have had quite some time to right their ship (I think the ship metaphor is ok because it follows the fish fry) and not having done so they might be left to their own devices.Lehman CDS currently 420/440 after closing 320/330.
Update: MarketBeat reports: “Michael Schwartz, options strategist at Oppenheimer & Co., says the activity reflects a re-pricing of Lehman’s shares without Neuberger.”
sham-wow 1st!!!
Anyone with half a brain and a chart of the dollar vs. won knew the KDB deal was not happening.
first….face
Too long, didn’t read.
# 4 you rule brother people hate you!!
I’m boycotting DB until shamwow, mayo and first are blocked.
I’m boycotting DB until shamwow, mayo and first are blocked.
I’m amazed that Dick Fuld still has a job. There’s no saving LEH while he is there.
any word on first year associate pay at leh?
There is NO saving LEH. The question is in a liquidation sale how much does someone pay for LEH to get NEuberger?
LEH will not be bailed out.
Neither will WM. I am guessing that they will fail by Friday.
Then the next issue becomes a bailout of the FDIC (they get some ability to borrow from treasury as needed?)
Samueel Eells had TB
#6 boycott all u want ,you can not stop the mayo revolution!
#6 boycott all u want ,you can not stop the mayo revolution!
Great to be making a lot shorting them. Couldn’t be happening to a better firm or better group of guys.
Fuld + KDB = Shamwow!
#6 and 7 nice double blog moron. Boycott your ass off WHAT aloss knowing that you no longer read this tabloid.
Bess, Carney PLEASE BLOCK shamwow, mayo and first…..THEY SUCK.
Rumors that they thought they were talking to Kim Jong-Il but he turned out to be the impostor. Shares falling on news Kim Jong-Il AWOL at anniversary parade.
Can we have another Tim Sykes thread? LEH is toast….why dwell on the inevitable.
Timmay where are you!
NB cannot just be sold, because the value is associated with the brand (think US Trust + Charles Scwhab)…they want LEH to fail, so they can just split off and be on their own, rather than buy themselves out.
How many shamwows are necessary to clean up the mess left by Lehman?
well this may be the first time in weeks the Fed doesn’t get their weekend disturbed with Diet Coke sessions. sort it out during the work week like other underpaid govt employees.
@17– we will be filtering all comments with the word ‘mayo’ and ‘sham-wow.’ So get it out of your systems now, boys!
I reluctantly state that at 1st mayo and the shammer were annoying But I’VE GROWN TO LOOK FORWARD TO THERE SOPHMORIC AND HARMLESS COMMENTS.
@20
I disagree. Given the opportunity, NB could be free and clear of LEH by say, 2:15 pm, 9/09/08.
BL – THANK YOU!
I hope it turns out ok for LEH but if it doesn’t, they have no one to blame but themselves. This has been going on forever and they’ve had plenty of time to address it. If not, it would only be because they were clueless or overplayed their hand.
@23
“Bess Levin”
…Stopped reading right there.
#21 bear in mind they are reusuable, machine washable and bleachable, so taxpayers will only be paying 19.95 + S&H, rather than $20 for each month the mess lasts!
Bess please don’t stop these guys. I’ve never even been interested before these ladies started to write in. let them be and fuck all the naysayers.
Bess Levin = Kim Il Jong. So now you want to censor the site. Now problem with people cursing and talking about sex acts, but God forbid someone should have fun with the word mayo and shamwow. Shame on you.
@31. just stop. really. you ruin threads. it’s enough.
@25 – only if the mgmt buy themselves…the only shop on the street where NB would fit is GS, and they’d rather watch LEH die
NB is asset management / wealth management for silver spooners…you really think they want to have WB statements?
@32
Here they come, to your rescue…
- – - – - -___@@@__
____/_____||___\_____
/o——–CARE-POLICE——@\
\—(@)====+====(@)—-/
# 31 bravo!!!
Dick Fuld = sham-wow with mayo
@29, 21 here, great analysis. I work for a hedge fund, we need that kind of analysis around here. Let me know if you are ever looking for something.
19: Tim?
I also would be happy to see the sham-mayo comments go. I’m pretty sure they’ll find a different way to be just as annoying, though. They’re trolls.
give me mayo or give me death,i’m out of here!
@ Bess Levin:
Oh goody! Now we will get “may0″ “m@y0″ and “Sh@mw0w” posts while Billy and Skippy spend their supposed-working hours throwing spitballs from the back.
Ask not what your shamwow can do for you, ask what you can do for your shamwow
bess do’nt believe the hype its a sequel
Bess do you think you would’ve gotten 45 comments without shammer and mayo guy ??
just saw Collyn Gilbert from Stifel on CBNC. she’s an absolute babe. takes the cake for hottest babe on the street hands down!
anybody got her email? i’d like to discuss my stife(l) nickolaus with her.
@ 42, didnt Vince Offer say that?
Shamwow/Mayo/tldr invade our space, and we fall back. They assimilate entire worlds, and we fall back. Not again. The line must be drawn here! This far and no further! And Bess will make them pay for what they’ve done!
I wonder if paulson tells bernanke to throw this bone to gs.
There is no way Fed/Treasury will let LEH fail.
You guys sink it to $6 a share and I am going long.
Mom and Pop still have plenty of cash left to bailout the risk takers.
First they came for the guest posters,
- but I was not a guest so I did not speak out.
Then they came for the shamwowists and the mayoists,
- but I was neither, so I did not speak out.
Then they came for the ‘too long, didnt read’-ists,
- but I read full posts so I did not speak out.
And when they came for me, there was no one left to speak out for me.
#50 enough with the haikus. have you noticed that we’re dealing with a financial meltdown here?!
boycott until people learn to post only once
@ 49
Yes they will let it fail. They have to. Something has to fail. And timing does matter on this issue.
LEH had plenty of time to right the ship. Jesus, 3 weeks ago Fuld couldn’t get a straight up financing done because he wanted an 6-8% premium from where LEH was currently trading.
Mark my words next bailout goes to FDIC.
@51
I’m trying to remember the name of a song. It’s something like…
Ho ho him….
Maybe, “Go with him…..” ?
Do you know it? It’s been killing me.
Mayow
@51
“haikus”
…Stopped reading right there
@ 49
Yes they will let it fail. They have to. Something has to fail. And timing does matter on this issue.
LEH had plenty of time to right the ship. Jesus, 3 weeks ago Fuld couldn’t get a straight up financing done because he wanted an 6-8% premium from where LEH was currently trading.
Mark my words next bailout goes to FDIC.
@54, its:
Lehmans sucking wind
While Koreans walk away
Ben Bernanke help
51 does that strike you as a haiku?
50 I don’t think that particular poem is all that funny being co-opted into something this ridiculous.
They bailed out Bear because of its CDS exposure. Surely Lehman has the same or greater CDS exposure.
Only postive thing to come out of LEH faliure will be to see Crammer try and justify his BUY LEH call (from $30 on down – at this point mine as well buy some more as if you bot at $30 only lost around 70%)
@60
They bailed out Bear? News to me. I thought they bent Bear over a chair like Kobe did to his Colorado wingbat as retribution for what Bear did during the LTCM fiasco.
What do I know, though. I invested in Shamwow.
@50 – Semi brilliant. I have to say I sort of get a kick out of the shamwowists.
ISDA must be frantically trying to settle frannie CDSs before counterparty risk sets in…
Ladies and gentlemen, I’ll be brief. The issue here is not whether we broke a few rules, or took a few liberties with our borrowers and financial counterparties – we did.
But you can’t hold a whole institution responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn’t we blame the whole financial system? And if the whole financial system is guilty, then isn’t this an indictment of capitalism itself? I put it to you, Greg – isn’t this an indictment of our entire American society? Well, you can do whatever you want to LEH, FNMA, FRE and BS, but we’re not going to sit here and listen to you badmouth the United States of America. Gentlemen!
I feel sorry for my classmates from the top-7 MBA program, who joined LEH this August.
Ironicaly, I know a couple of people who spent their summer internship with the firms like HSBC or BNP Paribas, got full-time offers, but decided to shop around for a bigger name, eventually opting for Lehman
We are talking about unchecked aggression…
THIS AGGRESSION WILL NOT STAND
Am i wrong
You guys are all idiots. 50′s “poem” is cribbed from a poem written by a German pastor during the Holocaust.
nice spin though.
Chairman Mayo?
Chairman Shamwow?
“Chairman”
… Stopped reading right there.
@67 – I think you forgot to take you medication today. Go down some lithum, maybe a vodka shot and head to matt drudge’s website.
Thanks!
There won’t be a “bailout” of the FDIC because they can borrow (from the fed I think, though that may be wrong) against the future cash inflows from insuring all the banks. The insurance is a must-have for institutions seeking average depositors. The FDIC will just have to raise their rates to banks in the future to pay for the loans.
Didn’t the LSE hook up with Lehmans on their tradings systems to form Baikal? Shoulda say the writing on the wall as I twiddled my thumbs for 7 hours on Monday…
um, #68, we know that. Hence #59′s comment.
Didn’t the LSE hook up with Lehmans on their tradings systems to form Baikal? Shoulda saw the writing on the wall as I twiddled my thumbs for 7 hours on Monday…
My left foot itches.
Please comment on the dick fuld deathwatch:
http://americanmadness.com/2008/09/09/dick-fuld-deathwatch/
@#65
So what else is going on, how are we opening up?
the sad reality of the whole shamwow/mayo/etc phenomenon is that each inane post drives ad revenue via page hits. as much as you hate them, these posts make db money.
without Neuberger, LEH stock goes to 0.
@78 – I feel used
what’s sham-wow? seriously.
Shamwow
Mayo
First
3 Chimps
Gasparino put on his glasses to explain Credit default swaps…. genius
so what else is going on
Shamwow
Mayo
First
3 Chimps
LEH may pre-announce earnings today.
what’s sham-wow? seriously.
To the Stifel “Babe?” stalker
http://www2.stifel.com/site/content.aspx?id=192&aid=100
This is hot????????…looks like generic white-ho trash you would see in infield at Preakness or Vons checkout
Get out and meet some models, its fashion week..
To Shamwow, Mayo, and Too long, didn’t read:
Do not go gentle into that good night,
Old age should burn and rave at close of day;
Rage, rage against the dying of the light.
Though wise men at their end know dark is right,
Because their words had forked no lightning they
Do not go gentle into that good night.
Good men, the last wave by, crying how bright
Their frail deeds might have danced in a green bay,
Rage, rage against the dying of the light.
Wild men who caught and sang the sun in flight,
And learn, too late, they grieved it on its way,
Do not go gentle into that good night.
Grave men, near death, who see with blinding sight
Blind eyes could blaze like meteors and be gay,
Rage, rage against the dying of the light.
And you, Bess Levin, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
Sham-wow:
http://getshamwow.com/Default.asp?bhcp=1
SFW. The guy in the video is named Vince Offer. Seriously.
Hilarious, right?
what’s sham-wow? seriously.
oh DB is going to hell
what’s sham-wow? seriously.
Sham-wow needs to merge with Mayo in order to survive these hostile conditions.
#50 Bravo.
SPODE
@47 Star Trek reference?
@88 Dylan Thomas reference?
@50 Holocaust reference?!
All of this trouble in the defense of inane comments?
Bess and Carney are right to edit out the B.S.
LEH will be back up to at least $12 for NB alone. This is overkill.
Bess – you still there?
Bess = Mayo and First, how do you think she always gets in there early.
I have no idea who Shamwow is, probably Bill Miller.
@96. shut up. just shut up.
http://www.lehman.com/press/pdf_2008/0908_3q08_conference_call.pdf
confirmed. earnings out today
can some equity analyst explain me how LEH stock crawls out of this hole when it pays 7B per qtr on interest expense and has 2.8B in operating income?
Wow. I’ve been making shit-loads out of this short. I missed shorting BSC. And we lesser mortals can’t short ABX like John Paulson could. So instead, it’s done to shorting Lehman.
And this is what I have to say to you guys — It is *NEVER* too late to short Lehman. It’s got wayy more downside. join the party guys.
And screw you poor Lehman employees. freaking pussies.
Too long, didn’t read.
100th.
Bess:
Please filter all comments before they hit the board. The more time I waste skipping over the “mayo, etc” comments, the less likely I’ll be returning.
@101
Too late, missed the post.
@102
Mayo, shamwow.
has bloomberg started any of their rumor mongering about this yet?
Can Sham-wow clean up my cum. I am Einhorny and I just came in my pants when I saw Lehman go into single digits. I need to clean up after myself.
@98 – actually all that confirms is GASPO is a GASBAG.
Press release states that earnings and “stategic initatives” will be announced on Sept 18, 2008.
I bet there is not announcement on Sept 18, 2008 because LEH doesn’t exisit on Sept 18th.
Bess and the DB team:
I understand that you not gonna ban anonymous posting as it’s gonna violate your philosophy. What you should do then is:
1. Encourage regular users to register and post under their user names
2. Provide readers an option to read only comments from registered users, so one can skip all this mayo shit
otherwise you’ll start losing the audience pretty soon
>$10. BOOYAH.
HOw many days before bail-out? How many days before Fuld is out? How many more employees laid out? Plez answer my queries.
This is crazy man. Serves you Wall-street asswholes right.
What are the future uses of the Lehman headquarters now?
You people are all so uptight. This isn’t NASA, it’s dealbreaker. Just ignore the mayo guy. So not that big of a deal. What a bunch if princesses.
Einhorny @105
I don’t know about cum and sperm, but Shamwow can definitely clean up mayo, ketchup and mustard. Not to mention water. Does that help?
for more info go to http://www.getshamwow.com
@102/107– Considering the enthusiasm with which mayo, etc post their garbage on every single god damn post, I don’t really have time to be sitting here removing their comments. But it’s also been mentioned that filtering comments with mayo, etc probably won’t do much, because the troglodytes will just find a substitute word with which to annoy the shit out of every one. And banning their IPs– users can spoof IP addresses. We are considering having people register, but know that many people do not feel comfortable with that, even though you can give us a fake email/fake name, and we’d have no way of knowing who you are, anymore so than we do when you comment as a guest.
Interestingly enough, I just received an email from one of the mayo,etc guys, who can’t understand why we blocked his address. Apparently I should be “ashamed” of myself, and “Livingston, NJ” is “disappointed in me” for blocking “a few harmless blogs about pretty much nothing.”
@Bess– I would register so we wouldn’t have to hear their shit.
@ BEss .
So would i register. If it meant i wouldn’t have to hear from those idiots again.
Tell the mayo kid to get a job and maybe he could move out of his mom’s basement.
Bess I like the filtering option. Make it so we can click to read only posts from registered users if we want
@111 Bess from @107
Thanks for reacting to my message
I dont think you should ban anonymous posting, but rather find a creative way to encourage registering
For instance – anonymous comments would be premoderated
Or, as I mentioned earlier, give registered users an option to read only posts from registered users
I call dibs on username ‘Shamwow’
#111
Knee-jerk reaction. And the more attention you give it the more you will see it. Obviously the people complaining have never been the tormentor in life.
22 year old kid trying to make a difference. “A” for effort but throwing stones at the beehive is not a good idea. Let it go an move on and so will the mayo, etc guys.
@115 et al– by filtering I meant, filter comments with mayo,etc; there is no way to make it so you can only read comments from registered users. Pre-moderated comments are way too labor intensive. It would mean I would have to approve every single comment of the non-registered users, of which there are many. Plus, not all guests are mayo,etc people, and there is nothing more annoying than being told that your comment is being held for approval.
and banning him was not a knee-jerk reaction, @117. He and the other mayo,etc guys have been annoying the shit out of people– myself most especially included– for a while. And they have only intensified. I wrote him back and explained that they’re not harmless but ruining comments and said that I would think about reinstating his IP, which I really will consider, since he e-mailed me from his work address, so I now know his employer and real name.
>that I would think about reinstating his >IP, which I will, since he e-mailed me >from his work address, so I now know his >employer and real name.
Dick Fuld? :)
what’s sham-wow? seriously.
Bess, if your 12 yr. old IT guy can hack it, I’m all for letting registered users be able to filter out comments from guests. It’s done in other boards with great success and encourages registration.
I would have never guessed ‘mayo-gate’ would be todays top story overshadowing everything else…
“so I now know his employer and real name.” and will end him at the first mayo comment?
Please? I’ll do it for you. Just say the word.
@diablo– what sites do that? I’ve never seen it.
douchebag@kfc.com ?
And so begins the pussification of DB. Just remember when you sleep with pussies you will become sympathetic to their sensitive needs and soon the pussy will dictate the path you travel. Less than 5% dictates the reality of the community. AFUKNAMAZING.
Those willing to give up a little liberty for a little security deserve neither security nor liberty.
-Benjamin Franklin
SPODE
@SPODE– it is not the pussifcation of DB. You of all people should know that for the most part we are more than willing to let you guys say whatever the fuck you want, be it crude, obnoxious, or about the DB editors. And we haven’t yet decided what the appropriate solution will be, meaning you might not have to make ‘SPODE’ a registered name. So put a sock in it.
So, assuming someone creates a username, and then continues to spamwow the board, what is the recourse? Ban the username? And that will stop the person from creating another username and beginning the cycle again how?
#124
dslreports.com is one example where a registered user can filter out unregistered users.
SPODE,
Seriously? Using that Ben Franklin quote for a disagreement about an anonymous internet comment section on a low traffic website? Get a life.
Bess,
Just do like EP and nuke the comments.
@suits– what’s with you and the other db’ers who insists on trash talking (“a low traffic website,” etc) the site they obviously take the time to read and comment on?
@suits– read the previous posts– there are too many of these dbags to be constantly deleting their comments. ep would delete the handful of ones attacking her personally, not this army of spamming fucks.
126 My grandmother used to say “when you sleep with a baby, you wake up covered in pee”. It sounds especially profound in Italian. Grandma was one tough bird.
@133– or you roll over and “accidentally” suffocate it in its sleep.
what’s sham-wow? seriously.
120 Guess you’re not on the treadmill on Saturday afternoon, watching infomercials. A sham-wow looks like a dust mop but is apparently strong enough to absorb about half of the Hudson River. They demonstrate this by showing how it sucks up everthing in sight. I’m this close to buying one.
Uh, so what does a sham-wow have to do with Lehman Brothers?
137 Same as mayo: nothing
here is a novel idea for answering questions…www.google.com
@139
What’s your problem? Like you were looking for the answer to life’s mysteries and my question regarding what sham-wow was got in your way. Good luck finding out why you were born on this forum. You’re just mayo-fodder at this point.
139 Actually, I’d like to thank 139. I googled sham-wow and learned the Vince Offer connection. Also learned that the absorbant properties of the sham-wow, as demonstrated during the commericial, are greatly overstated. Imagine that.
@140
139 here,
If you were a stock I’d short you…lazy bitch!
So, the spammer(s) are not all the same person? Wow, too many people were deprived of attention as children.
Mayo-fodder…good one, 139 has jokes…
what’s sham-wow? seriously.
If shamwow was a financial firm, which one would it be? Why? Please show all work.
testing: Can we post in older threads?
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