The Lehmanites Strike Back!

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Our item on Lehman has provoked sadness and not a little outrage by some of our readers who are both Lehman employees and investors. We’re accused of simply buying into the rumor fueled fire that is burning down Lehman brother’s share price today. In fact, at least one person familiar with the firm suspects a conspiracy behind the fall of Lehman’s shares today.
“Of course, LEH is again tanking today, and the most ominous rumor I've heard has to do with Goldman trying to break us while they have the chance (like they did to Bear),” one Lehman investor said on the condition of anonymity. “The resulting fire-sale would be an even higher quality corporate liquidation bargain than Bear Stearns' portfolio, which was legitimately stinking up the joint. I can see how that would greatly benefit the big firms, even if it is vile.”
He adds that Lehman should have plenty of money so long as counterparties and investors don’t panic.
“The Fed says we have $200 billion of credit if we need it (with the ability to pledge the ‘worthless’ securities as collateral if we'd like). Fuld is absolutely right, liquidity should be off the table,” he says. “But even if we can let everyone cash out successfully, we still need customers! Short of publishing the firm's complete balance sheet, how could any company manage the market's insistence on jumping a perfectly sound and well-sailing ship?”