EXTREMELY SUPPOSEDLY, “there’s a term sheet floating around from the Treasury to nationalize Morgan Stanley.”
Unfounded Rumor File Time: What In God’s Name Name Did Lehman Do To Piss Off The Government?
By Bess Levin — Advertisement —
Comments (69)
Leave a comment
You can log in with your account or comment as a guest below.
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
$2
Buyer
sold to you
lehman was just the poor unlucky ones to be allowed to fail first and made everyone realize there is no way that could happen again.
Hank would go back and save them if he could
why the late day rally
put it on the tape
Bush got out his tools and is setting to work…MS being nationalized is 1st up!
http://i273.photobucket.com/albums/jj220/sellthekids/bush_chainsaw.jpg
short covering rally. financials up huge. KRE up 11.5%.
piggy back on #5
anyone know?
Shorts covering due to news risk over weekend.
Don’t buy rising broadswords. Try to undercut the price action a little.
Is the Treasury now buying equities or what?
Happy days are here again!
Just fucking nationalize MS so we can move on to GS
13 sounds like someone was short… better cover going into the weekend
Short covering into the sell off
EVERYONE is raising cash.
700 point swing over 20 minutes, now back to flat on the day? Geez.
See, don’t panic buy.
There’s no such thing as the PPT
There’s no such thing as the PPT
There’s no such thing as the PPT
There’s no such thing as the PPT
It’s all based on economic fundamentals and sentiment.
It’s all based on economic fundamentals and sentiment.
It’s all based on economic fundamentals and sentiment.
pump and dump?
Sorry…had to go take a Lehman. What’s the topic?
Lehman who?
the gs credit desk is HOT right now
i actually think i hear “make it rain” playing on a computer nearby
I just took a Wells and wiped my Fargo…
I can understand Paulson wanting to fuck Dick Fuld in the ass but he should at least have had the common courtesy to give him a reach-around.
no more power point presentations…
nationalizing MS would mean it belongs to GS, hasn’t washington been essentially goldmanized already?
Probably this.
http://www.cnbc.com/id/27114651
Our traders just put on a huge put position on GS. Praying it pays off next week.
29 Did you see that while filing the tickets? If so, the info could be a few hours old.
@28 Paulson says
“It is unimaginable that they (MS, GS) can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend,”
@28 are you crazy? Do not try to step to Hank Paulson. You will be bitch slapped.
@ 31 learn to read. Paulso did not say that.
the only tickets I file are the tickets to my gun show.
-29
yeah they won’t be nationalized.. paulson and his term sheet will save the day which is too bad since i had a bunch of low october puts on gs that i need to get out of
When is buying equities radical?
Great idea Bess. Now that John Cornhole is gone, let’s go back to the old Dealbreaker layout? Just to piss everyone off.
Lehman was allowed to fade out and die like vanilla ice’s rap career, because their ceo was a DICK.
For those of you playing with equities at home, limit orders are your friends. The only free price control you get.
#37, but a lot of little people got hurt and I read that London is still looking for their 8B.
Isn’t Jamie Dimon going to save the day for GS and MS? I heard they are getting his white horse out of the barn and giving it a shave and a haircut.
#39
Life’s tough, stop crying, grow some balls and make some money.
Hey, looks like RBS is first to queue up on the gruel line:
http://www.dailymail.co.uk/money/article-1076339/Royal-Bank-Scotland-bank-hold-begging-bowl.html
Did Cramer actually say on erin’s show that a bunch of “courageous bulls” were “keeping certain stocks up”. He named them and one was apple.
My name is Patrick Bateman, VP of mortgage backed securities trading at Lehman Brothers.
Tell me something, Do you like Huey Lewis and the News???
@ 42
Hewow chiken wit fwied wice.
The secretary/security looks dooable.
This performance beat out Burt Reynolds’ role in Boogie Nights. Robin Williams “brings it” in this film. Reynolds was incredible, But Williams, with what he does here, and what he does throughout this film (especially when he grabs him by the neck “I’ll END YOU, Chief.”) is truly one of the greatest supporting actor performances ever.
Great Idea, guys.
Anyone who bad-mouths this has really no value at all.
_______________________
This performance beat out Burt Reynolds’ role in Boogie Nights. Robin Williams “brings it” in this film. Reynolds was incredible, But Williams, with what he does here, and what he does throughout this film (especially when he grabs him by the neck “I’ll END YOU, Chief.”) is truly one of the greatest supporting actor performances ever.
Great Idea, guys.
Anyone who bad-mouths this has really no value at all.
Dick Fuld is an ass clown that played chicken with Lehman and lost. Who knew a gorilla wasn’t capable of understanding basic risk?
Paulson’s the crook playing God with our money.
It was simply a whack job! They are all just a mafia-like syndicate of criminals, and they decided to whack a couple of the “families”, split up the loot and go fo more.
It’s all classic JPMorgan playbook rehash:
http://yourmortgageoryourlife.wordpress.com/2008/10/06/did-jpmorgan-almost-fail-jekyll-island-investment-still-paying-dividend/
And now they are setting us all up for Fascism!
http://yourmortgageoryourlife.wordpress.com/2008/10/10/are-these-the-forging-fires-of-the-nwo-we-feel/
It’s like 12 Monkeys – maybe the crazies are not so crazy after all!
Govt buying non-voting bank stakes…
Does this mean I have to short financials to be net even?
This market is getting ridiculous:
http://upzero.com
its not just MS, it’s ALL of the US banking system. Here’s how it will go: Monday is a bank holiday which will be extended to Tuesday; and when we wake up Wednesday, ALL OF YOUR BANKS BELONG TO US.
http://en.wikipedia.org/wiki/All_your_base_are_belong_to_us
“Take action, where appropriate, to restart the secondary markets for mortgages and other securitized assets.”
No, they need to END the secondary market for mortgages and other securitized assets. Get back to the “good old days”, when a lender making a decision to lend money, or a business owner making a decision to extend credit to a customer, actually CARED whether it was ever likely to be paid back. If the Fed wants to help the housing market, they should put out a huge interest rate subsidy to lenders who originate mortgages on homes within 100 miles of one of the lender’s bricks-and-mortar offices, and make the continuation of the subsidy dependent on the original holder retaining the mortgage. Make it really, really expensive to sell mortgages into the “secondary market”, and to make mortgage loans on properties so far away that no one at the originating business has a clue what’s going on in the real estate market in question.
At # 55, I know you are probably new to this, but please do keep up. What you suggested has been tried. Little thing called “savings and loans”. It did not end entirely well.
In the unlikely event you’ve read “Liar’s Poker” and its ilk, please note that the whole reason the S&Ls were encouraged to dive into Wall Street was their core business was so badly screwed that it was deemed a bright idea to let them trade their way out. Many would have failed simply due to concentrated exposure to a single geographical market coupled with interest rate fluctuations that left them paying more for deposits than they made from their long term mortgage assets.
There were concededly massive errors made in the post S&L world that is now crashing down. But nobody with any sense of history would want to go back to the world of “Its a Wonderful Life”
Lehman’s only crime was that their name wasn’t “Goldman Sachs”. Period.
Dick was the only one willing to take on Hank. The rest of the wimps offered the necks of their underlings. But Dick was having none of that shit and brought it on. Hell if Dick wasn’t winning neither was Hank.
Really some fine BSD even if it does tank the entire economy.
@57 & 58 – 48 here. It sucks to be unemployed in this market especially if you are good at what you do. To suggest that Lehman was something special and but for some underhanded dealing by Hank, Lehman would have been masters of the universe is pathetic. The gorilla fucked up like people read about and managed to fuck the employees/shareholders in the process. To blame Goldman or their alumnae for your demise is to grossly overstate your relevance to the system.
OK, Trading desks are being wiped out in MS offices in
a. Moscow.
b. Budapest
c. Paris
d. Milano
c. to an extend in London
MSIL (the UK office) has NO CREDIT LINE
#61
You fucking us or are you for real?
As a former Lehman employee, our only saving grace was that we were too big to fail.
@61
For real bitch.
Heard very recently in a post-mortem of its demise that Lemon was playing hide the sausage [Tier 3 assets] with the SEC and Fed during the first part of 2008 which majorly pissed off Paulson who decided that the Feds could not trust Df and crew after that.
Knowing what I do about management, this rings very true to me.
Ex-Lemonite
They practically announced their true intentions. Check out the Project for the New American Century website http://www.newamericancentury.org/ – Bill Krystal, Paul Wolfowitz and the boys subtle outline for a strategic play for resources worldwide through militaristic corporatism. Democracy means dealing with congress and dissent – the kinds of things that make an “empire” lethargic and ineffective. http://tinyurl.com/4ofhre
nominate someone for our hall of shame.
http://endofesq.com/hall_of_shame.html
Remember that loser with a law degree named John Carney, who used to write stories here…..Well that double-crossing SOB is rumor-mongering over at that “honest” Henry Blodget’s ‘Clusterstock’ website.
@67
STFU you loser. John is just reporting facts. You may be losing your job soon but still STFU
@68- nah, he doesn’t just report the facts, he twists them to make whatever argument he wants.