Lehman, its NOT going well!

[Mega]

Talks in DEEP trouble!
http://www.cnbc.com/id/26681709
Brinkmanship going on me thinks!
Mike

[Jeff]

Re: Lehman, its NOT going well!

Mike

Thanks for the drama. I actually unconsciously grin when I see it's a MEGA post, cuz there's never a dull moment.

Front seat at Armageddon here on iTulip, eh?

Here's another cheerful note.

Cheers,

Jeff

[Jim Nickerson]

Re: Lehman, its NOT going well!

Talks in DEEP trouble!
http://www.cnbc.com/id/26681709
Brinkmanship going on me thinks!
Mike

http://www.cnbc.com/id/26681709

Feds' Lehman Plan Doesn't Set Well With Street Execs 3:27PM Saturday 9/13/2008

A major roadblock, however, is Lehman's $40 billion in troubled real estate and subprime assets on its books. Bidders don't want to purchase Lehman and its bad debt, particularly without government assistance.

That's why the Fed and the Treasury have pushed the LTCM plan: If Wall Street buys the illiquid debt, it could bail out Lehman and possibly make money once the real estate market comes back. The problem for the street however is that they fear the rolling financial crisis could claim other victims. One executive at major Wall Street firm said the Federal Reserve might have to guarantee a government bailout of the next firm to implode for the Wall Street firms to agree to the plan.

[Mega]

Re: Lehman, its NOT going well!

Lehman have hired Lawers, they are going BUST!!!!!!!
Try to confirm shorty!
Mike

[Mega]

Re: Lehman, its NOT going well!

It is said the papers are being prepared by Weil, Gotshal & Manges LLP as we speak.
Mike

[rj1]

Re: Lehman, its NOT going well!

Que sera sera.

[Jim Nickerson]

Re: Lehman, its NOT going well!

http://online.wsj.com/article/SB1221..._us_whats_news


The link above is to a longish WSJ article, timed 7:12PM which is the most recent word on this issue that I've crossed.

It may not be an open access link. If anyone is interested, I'll copy the entire mother into here.

A disorderly unwind of Lehman's derivatives trades is only one worry. Another worry is that if Lehman collapses, its distressed assets -- such as commercial real estate -- could suddenly hit Wall Street for sale, forcing prices even lower and potentially forcing other dealers to mark down once again the value of their own holdings.

Lehman has hired law firm Weil, Gotshal & Manges LLP to prepare a potential bankruptcy filing, according to a person familiar with the situation. The New York-based Weil has a leading bankruptcy practice and advised Drexel Burnham Lambert on its 1990 bankruptcy filing.

In a Lehman bankruptcy, the firm's brokerage units would have to enter a Chapter 7 liquidation, in which a court-appointed trustee would take over, liquidate the firm's assets and get Lehman customers back their money. In general, securities that a customer holds at a brokerage firm are legally the investor's property and aren't exposed to the claims of the firm's creditors.

[Mega]

Re: Lehman, its NOT going well!

If this is not sorted by Asia market opening, by Monday its going to be a Bloodbath!
Mike

[Supercilious]

Re: Lehman, its NOT going well!

Lehman has hired law firm Weil, Gotshal & Manges LLP to prepare a potential bankruptcy filing, according to a person familiar with the situation. The New York-based Weil has a leading bankruptcy practice and advised Drexel Burnham Lambert on its 1990 bankruptcy filing.

Fuld is playing hardball with this move

I have a feeling we are all missing something in this case.

[Mega]

Re: Lehman, its NOT going well!

Its 1.14 ish in the AM here in Liverpool, am off to bed.
Mike

[tastymannatees]

Re: Lehman, its NOT going well!

I guess somebody will blink and we will muddle through to the next crisis

Roubini
"

If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Morgan and Citigroup). Then this run would lead to a massive systemic meltdown of the financial system.

Go Here: http://tinyurl.com/RMeltdown

[jk]

Re: Lehman, its NOT going well!

I guess somebody will blink and we will muddle through to the next crisis

Roubini
"


Go Here: http://tinyurl.com/RMeltdown

and i thought i was pessimistic. [good article, thanks.]

[LargoWinch]

Mike

Thanks for the drama. I actually unconsciously grin when I see it's a MEGA post, cuz there's never a dull moment.

Front seat at Armageddon here on iTulip, eh?

Here's another cheerful note.

Cheers,

Jeff

The end of the article ends like this (underline is mine):

[He also suggested investing in gold, despite the recent fall in price.]

Now that is CNBC for ya; Buy at all-time high especially RIM, Google and Apple, but for god sakes don't ever "speculate" on PMs even if they are dirt cheap.

[Supercilious]

Re: Lehman, its NOT going well!

My assessment is that something new and strange is cooking.

I would laugh my assessment off if they will to pull a "good bank- bad bank" with covert Fed patronage. Remember the Mellon trick? It was highly successful.

[GeraldRiggs]

Re: Lehman, its NOT going well!

everyone:

come on. If LEH goes BK, they go BK. Why have we gotten to the point in our world where everyone is scared sh&%less of a company going BK?
I've heard so many predictions of the "world coming to an end" if this and this.....the FED and TPTB have always done something to stave this off.
You don't think they know the alternatives?
There is nothing I'd like better than to see our government show some balls and say NO to helping LEH. They will not do it because in some ways it will hurt their cronies.
LEH may very well go BK on Monday and I'd be willing to wager even money that the DOW finishes green! PPT remember?
the FED is not going to allow the DOW to tank 52 days before the election. Think this thing thru gentlemen.