Posted:
#1
their CEO just made about the same bullshit statement that the Bear Sterns crook made LAST week. 
LOOK OUT BELOW!!!
LEH puts anyone?
Lehman (LEH) is NEXT
Posted:
#14
other commentary on LEH in particular
- "Like Bear Stearns, Lehman is relatively small and undiversified.
- Like Bear Stearns, Lehman just reiterated that its "liquidity position is strong."
- Like Bear Stearns, at least one of Lehman's trading partners is cutting it off: The WSJ reports that Southeast Asia's biggest bank, DBS Holdings, has asked traders not to enter new transactions with Lehman Brothers. "DBS has sent an internal e-mail saying it would not deal with Lehman Brothers from now on."
- Like Bear Stearns, Lehman is levered about 30-to-1.
- Like Bear Stearns, Lehman chose not to raise additional capital last fall.
- Like Bear Stearns, no one has any idea what's really on Lehman's balance sheet (including, probably, Lehman)
- Unlike Bear Stearns, says an analyst at ING, Lehman is NOT too big to fail, which means that the Fed might not be in such a panic to bail it out."
Posted:
#16
Vermeer the biggest thing you left off of that list is the fact that Lehman has access to the Fed discount window now, which Bear didn't.
That is a huge hurdle that has been cleared out of their way, in the event that they do need to find some more liquidity down the line, since it is reported that they already hit up the Fed today along with Goldman.
That is a huge hurdle that has been cleared out of their way, in the event that they do need to find some more liquidity down the line, since it is reported that they already hit up the Fed today along with Goldman.
Posted:
#17
Quote Originally Posted by jaxwhitey:
Vermeer the biggest thing you left off of that list is the fact that Lehman has access to the Fed discount window now, which Bear didn't.
That is a huge hurdle that has been cleared out of their way, in the event that they do need to find some more liquidity down the line, since it is reported that they already hit up the Fed today along with Goldman.
Vermeer the biggest thing you left off of that list is the fact that Lehman has access to the Fed discount window now, which Bear didn't.
That is a huge hurdle that has been cleared out of their way, in the event that they do need to find some more liquidity down the line, since it is reported that they already hit up the Fed today along with Goldman.
Good point..makes the difference between making it and not making it.
Posted:
#18
Thanks and yep it is a big difference. And I am not predicting the demise of LEH. I am, however, highly dubious of their true worth, and making it as a going concern is different from being valued correctly, especially in the opaque financials. I am keeping a gimlet eye on them and others, and expect to see many more bombs drop on Ben Bernanke's bald pate before this is over.
Posted:
#19
was watching Robert Kiyosaki on Larry King tuesday with Wolf Blitzer moderating and HE said that Lay'em and Goldie were probably next.
and I don't give a FUCK what their "earnings" or "financial statements" look like, there probably a FUCKING LIE just like Bear's was.
wish I could find a Cnn or YouTube link to his comments.
Posted:
#22
FBI investigates sub-prime crisis
"The FBI is investigating 14 companies embroiled in the sub-prime mortgage crisis as part of a crackdown on improper lending.
It did not identify the companies but said the investigation encompassed developers, sub-prime lenders and investment banks. (as in Countrywide and Bear Stearns?)
FBI officials said the agency was looking at instances of accounting fraud and insider trading." (Ya THINK?)
Posted:
#24
Congress begins probe of Bear Stearns' sale
NEW YORK (MarketWatch) -- Congress is looking into the Federal Reserve-backed agreement to sell Bear Stearns to J.P. Morgan Chase, examining the deal to see whether it complied with federal regulations and seeking to determine taxpayer exposure, The Wall Street Journal reported Thursday.
The Fed agreed Sunday to provide financing for up to $30 billion of less-liquid assets held by Bear Stearns. Roughly $20 billion of that funding is earmarked to back mortgage securities.
J.P. Morgan is set to exchange 0.05473 of a share of common stock for each share of Bear Stearns. Both boards have approved the transaction, which values Bear Stearns at $2 a share.
Many investors have cried foul at that sale price, saying even if Bear was facing bankruptcy, its headquarters in New York City alone were worth far more than the $237 million takeout value.
Lawmakers appear to agree with that assertion.
Posted:
#25
I bought back into SKF today. i also bought some MER puts. I've let lehman off the hook for the time being. I made boatloads on them already.
I feel there will be a sell off in the financials at some point next year. like it's been said, some have doubled this week. That's why I bought SKF at these levels. MER puts are for a gamble that they are next, not LEH.
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