Unfounded Rumor File Time: What In God's Name Name Did Lehman Do To Piss Off The Government?

Posted by Bess Levin, Oct 10, 2008, 3:24pm

EXTREMELY SUPPOSEDLY, "there's a term sheet floating around from the Treasury to nationalize Morgan Stanley."

1Recommend this! 69Comments

Comments

1

Posted by guest , Oct 10, 2008 3:26PM

$2

2

Posted by ebitDUH , Oct 10, 2008 3:26PM

Buyer

3

Posted by guest , Oct 10, 2008 3:27PM

sold to you

4

Posted by guest , Oct 10, 2008 3:28PM

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

5

Posted by guest , Oct 10, 2008 3:30PM

why the late day rally

6

Posted by MarshallStack , Oct 10, 2008 3:31PM

put it on the tape

7

Posted by guest , Oct 10, 2008 3:33PM

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

8

Posted by guest , Oct 10, 2008 3:33PM

short covering rally. financials up huge. KRE up 11.5%.

9

Posted by guest , Oct 10, 2008 3:33PM

piggy back on #5

anyone know?

10

Posted by guest , Oct 10, 2008 3:34PM

Shorts covering due to news risk over weekend.

Don't buy rising broadswords. Try to undercut the price action a little.

11

Posted by guest , Oct 10, 2008 3:35PM

Is the Treasury now buying equities or what?

12

Posted by guest , Oct 10, 2008 3:36PM

Happy days are here again!

13

Posted by guest , Oct 10, 2008 3:38PM

Just fucking nationalize MS so we can move on to GS

14

Posted by guest , Oct 10, 2008 3:39PM

13 sounds like someone was short... better cover going into the weekend

15

Posted by guest , Oct 10, 2008 3:41PM

Short covering into the sell off

16

Posted by guest , Oct 10, 2008 3:42PM

EVERYONE is raising cash.

17

Posted by guest , Oct 10, 2008 3:46PM

700 point swing over 20 minutes, now back to flat on the day? Geez.

18

Posted by guest , Oct 10, 2008 3:48PM

See, don't panic buy.

19

Posted by guest , Oct 10, 2008 3:48PM

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.

20

Posted by guest , Oct 10, 2008 3:50PM


pump and dump?

21

Posted by guest , Oct 10, 2008 3:51PM

Sorry...had to go take a Lehman. What's the topic?

22

Posted by guest , Oct 10, 2008 3:52PM

Lehman who?

23

Posted by guest , Oct 10, 2008 3:52PM

the gs credit desk is HOT right now

i actually think i hear "make it rain" playing on a computer nearby

24

Posted by guest , Oct 10, 2008 3:52PM

I just took a Wells and wiped my Fargo...

25

Posted by guest , Oct 10, 2008 3:54PM


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.

26

Posted by guest , Oct 10, 2008 3:55PM

no more power point presentations...

27

Posted by guest , Oct 10, 2008 3:56PM

nationalizing MS would mean it belongs to GS, hasn't washington been essentially goldmanized already?

28

Posted by guest , Oct 10, 2008 3:57PM

Probably this.

http://www.cnbc.com/id/27114651

29

Posted by guest , Oct 10, 2008 4:00PM

Our traders just put on a huge put position on GS. Praying it pays off next week.

30

Posted by guest , Oct 10, 2008 4:02PM

29 Did you see that while filing the tickets? If so, the info could be a few hours old.

31

Posted by guest , Oct 10, 2008 4:03PM


@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.

32

Posted by guest , Oct 10, 2008 4:05PM

@ 31 learn to read. Paulso did not say that.

33

Posted by guest , Oct 10, 2008 4:06PM

the only tickets I file are the tickets to my gun show.

-29

34

Posted by guest , Oct 10, 2008 4:07PM

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

35

Posted by guest , Oct 10, 2008 4:08PM

When is buying equities radical?

36

Posted by guest , Oct 10, 2008 4:13PM

Great idea Bess. Now that John Cornhole is gone, let's go back to the old Dealbreaker layout? Just to piss everyone off.

37

Posted by guest , Oct 10, 2008 4:22PM

Lehman was allowed to fade out and die like vanilla ice's rap career, because their ceo was a DICK.

38

Posted by guest , Oct 10, 2008 4:22PM

For those of you playing with equities at home, limit orders are your friends. The only free price control you get.

39

Posted by guest , Oct 10, 2008 4:23PM

#37, but a lot of little people got hurt and I read that London is still looking for their 8B.

40

Posted by guest , Oct 10, 2008 4:25PM

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.

41

Posted by guest , Oct 10, 2008 4:27PM

#39

Life's tough, stop crying, grow some balls and make some money.

42

Posted by guest , Oct 10, 2008 4:28PM

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

43

Posted by guest , Oct 10, 2008 4:29PM

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.

44

Posted by guest , Oct 10, 2008 4:32PM

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???

45

Posted by guest , Oct 10, 2008 5:09PM

@ 42
Hewow chiken wit fwied wice.
The secretary/security looks dooable.

46

Posted by guest , Oct 10, 2008 5:12PM

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.

_______________________

47

Posted by guest , Oct 10, 2008 5:12PM

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.

48

Posted by guest , Oct 10, 2008 5:48PM

Dick Fuld is an ass clown that played chicken with Lehman and lost. Who knew a gorilla wasn't capable of understanding basic risk?

49

Posted by guest , Oct 10, 2008 5:56PM

Paulson's the crook playing God with our money.

50

Posted by guest , Oct 10, 2008 6:00PM

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!

51

Posted by guest , Oct 10, 2008 6:52PM

Govt buying non-voting bank stakes...

Does this mean I have to short financials to be net even?

52

Posted by guest , Oct 10, 2008 7:16PM

This market is getting ridiculous:

http://upzero.com

53

Posted by guest , Oct 10, 2008 7:18PM

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.

55

Posted by guest , Oct 10, 2008 8:11PM

"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.

56

Posted by guest , Oct 10, 2008 9:18PM

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"

57

Posted by guest , Oct 10, 2008 10:11PM

Lehman's only crime was that their name wasn't "Goldman Sachs". Period.

58

Posted by guest , Oct 10, 2008 10:21PM

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.

59

Posted by guest , Oct 10, 2008 11:06PM

@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.

60

Posted by guest , Oct 10, 2008 11:38PM

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

Posted by guest , Oct 10, 2008 11:44PM

#61

You fucking us or are you for real?

62

Posted by guest , Oct 11, 2008 11:40AM

As a former Lehman employee, our only saving grace was that we were too big to fail.

63

Posted by guest , Oct 11, 2008 1:16PM

@61

For real bitch.

64

Posted by guest , Oct 11, 2008 2:47PM

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

65

Posted by guest , Oct 11, 2008 10:19PM

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

66

Posted by guest , Oct 12, 2008 12:23AM

nominate someone for our hall of shame.

http://endofesq.com/hall_of_shame.html

67

Posted by guest , Oct 12, 2008 1:14PM

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.

68

Posted by guest , Oct 12, 2008 2:08PM

@67

STFU you loser. John is just reporting facts. You may be losing your job soon but still STFU

69

Posted by guest , Oct 12, 2008 2:11PM

@68- nah, he doesn't just report the facts, he twists them to make whatever argument he wants.

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