September Stock Talk I

JPM to buy WM????

I guess if LEH hits $2 then Jamie Diamond will be interested in them as well, seems to be his favorite price.

I dont think anyone will be comfortable holding leh or wm or the weekend.

the Gov seems to work alot of weekends this year.

I wonder if the gov't is going to have to step back in with regards to shorting these financials again.

LEH, WM, AIG and MER have all hemorrhaged value in the last few weeks and there is no end in sight, outside of them being snapped up for cents on the dollar.

LEH bleeding, down another buck today..hitting lows right now.

WM also going lower.

I see no value in stepping in front of these train wrecks.  

Thanks for the feedback. I bought ABX.TO yesterday and sold it today for a quick 8% gain (could of had 12% if I held it).

CNBC is full of crap, man.  Don't listen to what those fools say.  If there is any emergency rate move this weekend, it ought to be a rate increase.

jamheat,

More than likely LEH will get carved up, with the pieces going here and there and everywhere which means the common LEH shareholder will get a swift kick in the pants and very little in their pocketbook.

These kind of "sunday" deals are never good for the common holder..the company is scrambling to get this done which means they are probably very low on cash and might be facing some margin calls and cannot cover them..

I wouldnt be shocked if LEH goes for a buck or two and nothing more.

Interesting LEH article today-

LINK

Looks like they will carve up the assets which means the common shareholder will get pretty much nothing. No way these larger banks will pay a premium for the good assets and if the government does agree to step in I am quite sure that any excess in equity from the purchase of good assets will be held against the bad assets, as it should.

Looks like BAC doesn't want any part of LEH.

But they are looking at MER??????

Wall Street has become one big soap opera

I am not seeing a deal being done on LEH yet, if they open it monday without a deal I have to think it opens at a buck or lower.

If BAC buys MER at a discount to current price I am changing my view on the stock and say it is a big winner and a buy. Now if they give a premium to current price, I am less inclined.

i hear...BAC buys MER for $29 a share (way overpriced IMO) but these are the same idiots who bought CFC for 18 (source is my brother and i dont know where he heard that)

and LEH is done...they let swap and credit traders net out their open trades today to settle the books before tomorrow's open

clay LEH just goes away...they carve the assets like wall said and someone will take over their prime brokerage interests and keep counterparty/client money safe

Koaj,

Can BAC be that stupid?

A 12 buck premium when the market is selling the hell out of the common?

Stupid is putting it lightly.

Time to short BAC.

Hope you guys bought some DGP and PMPIX.

MER/BAC deal

Stupid move by BAC, nothing better than throwing 18B to Merrill when they could have waited and probably got it for under 10 a share.

BAC made a mistake with CFC and another one here.

Or work for AIG: now begging the Feds for a 40 billion bridge loan.Let us all hope this is not the Alaskan Bridge to Nowhere Part II...

Hey, where is Al Greenspan when ya need him????

I would laugh,  but this shit is no laughing matter at this point...just a very scary, sad  scene.

aig is done. the fed has to say no. im not footing the bill for this