Lehman Brothers to Sell Majority Stake

[EyesofYah]

LEHMAN _NAM HEL....is dutch for take HELL

[chris0henderson]

it was the failure of the century I think, all started to collapse since Lehman brothers failed. And it should have bailed out and if it was bailed out we are in a better situation.

[comistores]

oh. it was really obviously.

[bukuroprince]

Why doesn't Washington sell North half of Mariana islands to Japan? When Japanese bubble had colasped they insulted Japan as idiot to use public money to buy bad debt though you may forget it. Reflect youself. If you want money, sell usefull things. The marine area of Mariana islands are very usefull to Japan. Sell it. Otherwise you are shameless begger.

[ZabolusBCFC]

Personally, I'm getting bored of arguing with ostensibly sensible friends who seem to think that it's good news when many of Lehman's 25,000 employees lose their jobs overnight. Thousands more are likely to go in Merrill Lynch's takeover by Bank of America, about 6,000 were laid off when Bear Stearns went belly up and that's before you even consider Northern Rock, HBOS, Washington Mutual. The list goes on.

[1955porsche]

lehman why cant these crooks make an honest living like the rest of us? selling junk crap bonds , stocks , they should be forced to work an honest days work .let them perish and learn some honesty. they are nothing but crooks liars thieves, con artists, master manipulaters now they will get decent honest us citizens to pick up the tab for their high living and total lack of responsibility, us govt aint gonna bail my white ass out, screw these parasites, are they gonna return their commisions??

[Romairama8888]

Dont' blame bernanke you old fucking greenspan.Wish you be the next FED in hell.don't make any excuses that bush doesn't listen your advice.

[thebizkid84]

Let these financial institutions fail. That's what they get for being greedy. It should NOT be the government's (taxpayers) problem to bail these companies out. This is capitalism, not socialism. Only the strong survive in this economy. There's good out of this. The institutions that survive this mess, because they managed properly, will lead the stock market back to prominance again. Look for the bulls to run again in 2011. For the next three years though, the market is going to be down.

[ytusergmail]

Bad News

[tarasov12]

More bad news to US citizen:

US national debt (2008.09.22)is

9,671,845,699,147 dollars

R u ready to return 1300 USD to every citizen of our planet? Ur personal debt is about 35 000 USD. Please send me a check. I shall wait only 1 day

[UnconcernedCitizen]

Americans have a right to consume. Indeed, it is our duty. Without consumption, we are without meaning and without meaning we are without purpose and without purpose we are without.

[ten4rogerthat]

i think the truth is that no one really knows how this financial machine works. its been fluking upwards for years now its on the down side......even the experts are crossing their fingers hoping it corrects itself

[fromFrancethebest]

I think I should be dead if it was TRUE

[thisisnothappening2]

george w. bush is here not to fix things but to lift our spirits.

[iampersian12]

OMG FUCK GEORGE W. BUSH!!!

canada is doing better then the U.S. wtd is this shit????????

[hwy9nightkid]

looks like bush almost did his job of holding this over until the next president has to fix it.

[ben5017]

It's nothing more than the old money rich getting richer ...

The Us dollar gets manipulated up, the rich move their money into foreign markets that are depresssed ... then they raise the foreign currency and manipulate the US dollar down to buy more dollars ... then the do it agian profiting greatly.

As for the companies ... they regaurd the shareholder's money as their assets. The fall of these companies is merely the rich culling all of the money out of the companies from average investors

[tellutubenothing]

its a disgrace that the US Govt will most likely help out another crooked mismanaged Bank. If our Irish Govt did that there would no Govt. Obviously there is rules for the rich and poor in the US.

The Bankers who did this should lose any future responsible job and be made an example of.

I pity the people who have mortgages and insurance with these crooks !

[maeon3]

Thomas Jefferson - 1802

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

[ben5017]

Amen ... well put!

[simon4mes]

LEHMAN R.I.P.

[cleverman55]

america needs obama....more mccain, more the same

[hokieneer17]

how is obama any different than mccain on key economic issues?

[Patdami1]

And you guys want Mccain, who by the way voted with G.W. 90% of the time.

[TAXtheAtheist]

Why should we (tax payers) bail out these Jew Billionaires?

[jjblackfriday]

what do the letters C.E.O stand for?

CRIMINAL ENTERPRISE ORGANIZER.

[jdp29824]

BET THE ceo GOT PAID TO MAKE ALL THE WRONG CALLS . BET HE NOT BUSTED . WILL NEVER ADMIT HIS GREED OR MISTAKES . HE SHOULD BE MADE TO REPAY HIS CLIANTS . HAS NO ACCOUNTABLIY.

[askrem1]

Spend more money on wars maybe it will fix the problem..ha ha american asholes

[cesna6]

george bush

[shkenbake1001]

stupid fucking americans

dont borrow fucking money if u cant repay

fucked america over

[l108783777]

The friend of Lehman Brothers , come to China, have your future here!

[901utah]

Everyone is better off putting their money into corn and soybeans in the MidWest. We have no more faith in Wall Street at all.They took our money and we dont trust you.Where is the Harvard, Yale and Wharton School of business guys who were so smart? You ran the 158 yr old bank into the &^% ground! No more! We dont TRUST YOU guys anymore.I am taking my money to Main Street and investing in local economy, local donut shops, local venues of business.Where we can watch it.

[UncleRico13]

These crackers should have listened to Wu Tang Financial. "You gotta diversify ya bonds, nigga"

WU TANG FINANCIAL.

Protect ya neck!

[BlueCollarWorkshop]

Greedy real estate agents and people lying about their incomes.........What more is there to say.

[doubts]

Greedy selfish bastards. Thats what i reckon

[hhubble]

A company that's been around for almost 2 centuries is now going under. Man all it takes is for 8 years of wonderful competent RepubliCON rule to ruin over a century of work. Man you guys are quick and efficient...... at fucking shit up.

[partylwc]

to blame it on republicans is kinda stupid... it should be blamed more on american greed then politics.

[hhubble]

partylwc

"to blame it on republicans is kinda stupid...it should be blamed more on American Greed then politics"

Even if us smart people, lets just say for a second fall for this simplified scapegoat of an explanation. American Greed, which political party more than exemplifies American Greed. I wonder if the reform party or green party, which party exemplifies american greed. I just can't put my finger on it. I know lets blame this on Bill Clinton, yeah his blowjob caused this. Case close.

[hokieneer17]

Clinton is part to blame by not letting the market go into a recession before he left office. There was so much mal-investments in the mid to last 90s, much like there is now in real estate. The only difference is between 1998 and 2002 the fed kept lowering interest rates and encouraged spending, postponing the inevitable recession.

[hhubble]

American's are greedy????? get the fuck out of here. Shit, the nation with the highest obesity rate is greedy, No wait, Humans in general are greedy???? Holy shit, could've fooled me. I guess I can blame every single financial fuck up on people in general. No No wait, I think I'm going to blame the people IN CHARGE. You know the people that were elected to MAKE SURE SHIT LIKE THIS DOESN'T HAPPEN. People who were trusted to watch over our economy and make sure shit works. Those responsible!!

[arn123321]

No this guy has a point.. a big part of America's current economic crisis is due to the trade deficit. So the issue isn't that Americans are greedy so much as they are flashy -- as an economy they spend more than they produce.

[hhubble]

So you're saying he has a point, but then say "so the issue isn't that American's are greedy so much as they are flashy" His only point to try and refute my facts, was that it's dumb to blame politics for this economic disaster, but tried to scapegoat/blame AMERICAN GREED. OKAY.

So you're saying he has a good point but then also refute what he said. (I'm sure you're psychic and you knew what he meant)

Flashy people took down Lehmans. Holy shit, I got a bridge in Alaska for sale for u people.

[hhubble]

P.S. He didn't mention trade deficits. But EVEN IF he did. DUHHHHHH we know how economics 101 works. I just wanted to blame the idiot (rightfully so) that was in charge and asleep at the wheel, with no real economic experience and for hiring incompetent corrupt, lazy, stupid people to try and make himself feel smarter that made the deficit worst and ruined our economy. I see through the B.S. and I point the finger where it belongs.

[hokieneer17]

That's the problem with most people, they assume the national government should govern the economy. The government should have no say in the economy. We were founded on free market principles within the Constitution which means no government intervention.

The problem is not just that the gov did a bad job of regulating the economy, the problem is they were regulating the economy.

[hhubble]

"That's the problem with most people, they assume the national government should govern the economy. The government should have no say in the economy"

Where do I return all this U.S. Federally printed money and coins. Since they should have no say in the economy. Where do I give back my T bills and bonds.

Since the Government should be so hands off, I wonder if a women can continue to have an abortion. Hope the Government can attend to such important issues now that it's hands off the economy

[hokieneer17]

You can take them to the treasury office and get more US dollars. The US dollar only has value determined by the free market, not by any government. Producers and consumers have determined that it cost 15K for a new Civic, not the government.

[hokieneer17]

Issuing a currency does not mean you run the economy. I can issue currency. I could give you 1 HokNote for 1 days work. That could be credit for a days work I'll owe you in the future. But a month later you find a guy down the street that will give you 2 days work in the future for one of yours. You obviously would take his offer. Well obviously I don't run the local economy, because If I did I would set the value of 1 days work to be 1 HokNote, regardless of any circumstances.

[hhubble]

No offense but you're really going off the deep end. I was blaming Bush for lack of intervention forsight and intelligence. BY falling asleep at the wheel thus allowing all these greedy criminals to fuck up our economy and in the process fuck up themselves.

You're saying all this happened BECAUSE of government intervention. Either way,lets for a second humor you and say yeah it's because of Govt. Well who was in charge at the time? Who was the head honcho?? either way WE agree they fucked up.

[hokieneer17]

My point is, it's not just the Bush Admin, or the Clinton Admin, it's the entire monetary system of credit that our currency is based upon.

Go a head and point your finger at Bush, and he deserves some of the blame for forcing the market not to recess in 2000-2002, if it makes you feel better. The problem is bigger than him and his incompetence, and you need to understand that.

[hhubble]

You and I have different views on what role government has. Great. No Problem. I and almost 95 percent of our population believe they run the economy and should step in to regulate it and maintain the system (in a responsible manner, not to RUN it 100 percent hence communist system or socialist) Simply to make sure there are no fuck ups.

Either they did too much or not enough. Either way, THEY FUCKED UP. Hence I HAVE THE RIGHT TO NOW POINT THE FINGER WHERE IT BELONGS. W. BUSH AND HIS FAILURES

[hokieneer17]

See I think, in order to "save" things, they need to step in and de-regulate it. The problem has been the irresponsible printing of money and gov. involvement in the free market that has devalued the dollar to the point we are today.

[hhubble]

again, we have different views thats fine, I don't need simple economics 101 review.

I'M SIMLY POINTING MY FINGER AT THE GUILTY PARTY.

If you seriously think the Bush administration did not reflect a hands off kitty touch approach, I can see just how blind some people really are. The financial collapsed occurred because of the goverment's failure to watch over us. They were too hands off. No amount of spin and B.S can change this. These are facts. You want more of this, go vote for Mccrazy.

[hokieneer17]

The bush admin created more government bureaucracy and spending than any of admin. since FDR. I wouldn't really call that hands off. You are talking to me, assuming I'm a Bush or McCain supporter, because I'm not pinning sole blame on bush. Absolutely they are to blame, but I'm trying to explain that the problem ran deeper than 8 years of bad bureaucracy.

If the Bush Admin were really "hands off" we would have felt this recession 5 years ago, and it would have been a lot less severe.

[hokieneer17]

I'm not voting for McCain. I'm not voting for Obama. In fact, there is not one candidate that has actually addressed the economic issues with any solutions.

The new legislation, IMO, needs to cut income taxes, primarily on the middle and lower classes, cut federal spending drastically, and probably raise interest rates to encourage a period of savings. I don't see any candidate doing that

[hhubble]

That's great to hear hokieneer. I understand there are a lot deeper implications and reasons why we're in the hole we are. But these issues have been around for a long time, and it's been building, but under Clinton, he managed it pretty well, even without the cooperation of congress at the time (they also get some credit too, but they also get blame for wasting our time bickering and fighting like children) Bush couldn't handle it even with the support of congress until 2 years ago.

[hhubble]

I understand you're trying to get to the source and introduce what you think is right. Again, I have no issue with that, we disagree on the role of government. But to me electing someone who is competent and willing to at least listen to people and learn from past mistakes is much better than someone who is semi-illerate and cannot even understand they can be wrong. You know the old saying he who thinks he knows, knows nothing. This is why I blame him, for his arrogance and stupidity. Take care.

[hokieneer17]

You do the same. Enjoyed the chat.

[phineastbuster]

mrundead: Your right. If people would write their elected officials and demand that the top executives of this company and others, be brought to justice just like the World Com and Enrron criminals, may be, just maybe, something would be done.

[splintercell99]

my sarcasm might not have been detected!

Hopefully justice prevails but it depends on just US, regular people earning less than 22 million a year!

If anyone has money lying around put it into assets like tools, food, clothing(industrial/office wear), boots. Things you might need to get by until you transfer jobs etc. who knows a market analyst one day might be driving a forklift the next

[phineastbuster]

splintercell99: I apologize. I didn't recognize the sarcasm and I should have. I often post comments filled with sarcasm but I was angry that the top executives will probably get away with what they have done, I missed your true meaning.

[phineastbuster]

The CEO of Lehman Brothers, who received $22,000,000 in bonuses last year while the company recorded record loses, should go to JAIL. If the govt. would hold these people criminally responsible for making their business decisions based on greed, we would not be in this situation.

Twenty-five thousand hard working employees of Lehman Brother don't have a job now while the CEO, CFO, Chairman of the Board, and other top executives are still enjoying the luxurious life style. Jail Now!!!

[splintercell99]

nothing to see here, move along people, the economy is fine.

Everybody nothing to worry about, the economy will bounce back... er i mean nothings wrong with it.

[phineastbuster]

splintercell99: There is nothing to worry about this time except for the 25,000 people with out a job and the thousands of people that have their money tied to assets that are held by Lehman and not protected. The only fair course of action is prosecution and if found guilty, prison in GENERAL POPULATION. I bet they would think twice before they thought that their $22,000,000 bonuses were worth it.

[mikexxxxnolan]

Perhaps banks should not be unkind to customers in case they retaliate. Michael Stephen Nolan Dublin - Eire 15th September 2008 3:45 pm

[bowflexor]

Uhh the problem is not the Banks and Loanders, It is the dumb customers who can't save their money.

[rocaho001]

they're done. they're smoking and drinking now.

[1dgg9h4dr6ppp8]

It's all over for LEH now.

[rossyboy1000]

They just went under.

[MYFreeSpeach4U]

When oil doubled housing will fall later,along with jobs, and the real shit is now the big banks are busting, and by Jan 09 were done in the US, And where is the 2 trillion china owes the banks, Well at wal-mart, JP Morgans pocket and the Rothchilds, on & on

[UnconcernedCitizen]

It is too late. It is over. Start plowing the fields again. Thanks, Mr. Gekko.

[KnownWorld]

December 11, 2003 · Global investment firm Lehman Brothers files an affidavit confirming that, in the 1850s, it profited from the slave trade. The company made the admission so it could continue to do business with the city of Chicago.

[greekoid1968]

They are all greedy hypocrites.

[ourearthhome]

The humbling of America. No more real estate/land speculation, the game of parasites.

[lonewolf1369]

you're an idiot, 'parasites'? They don't force you to take mortgages, the subprime mess was a combo of Fed policy, and bad decisions made by BOTH banks and loaners. That's the beauty of the free market, you aren't coerced with anything, and when you make a choice, you also have to acknowledge the risks. Also, speculation can reduce prices, dumbass

[ourearthhome]

Land value as distinct from the value improvements is created 100% by the community and not by individual land owners. Collection of community created land values via higher rents and sales prices is an unearned income to land owners. Speculation in a thing the supply of which cannot be increased, like land, can only result in higher prices. All economists agree. "Parasites" is my opinion based on these facts. Only a heavy tax on land value will make the market operate for good as you suggest.

[psxwarrior]

What is the point in cussing him out. He didn't cuss you out.

[hokieneer17]

I agree with you, mostly. People should have personal responsibility when it comes to their money and credit. Not to take any "blame" away from the lender either. With Giants like Fannie and Freddie buying up mortgages at an unprecedented rate, local lending agencies didn't have to worry about loosing assets if the loan failed. When you can lend and borrow money without the fear of loss on either side, of course bad things are bound to happen.

[hhubble]

Exactly my point, where was the fucking oversight to make sure any predatory lenders and greedy corporations (When you're in the BUSINESS OF LENDING MONEY, THEY'RE NOT DOING IT OUT OF THE KINDNESS OF YOUR HEARTS, THEY WANT TO MAKE MONEY OFF OF THE LOANS AND THE SUCKERS)

Since it IS the job of the government to collect taxes and to RUN the economy, where was the the regulation and oversight. You say this all happened BECAUSE they were regulating the economy. OH I beg to differ.

[hokieneer17]

you are misguided in your reasoning.

First off, when has government oversight ever improved a financial situation? I'd like to hear specific examples.

Of course banks are in the business of lending money to make money. But if they try to make too much money, or overstep their bounds, I can always go down the street to the other bank and get a better offer. In your system of gov. regulation, all loans would be on equal terms, thus eliminating economic competition.

[hokieneer17]

Once again, it is no the gov. respons. to run the economy. Congress simply issues the currency to which the free market determines the value of the currency in exchange for goods and services. If the Gov. ran the economy, we would see fixed prices on every good we bought, every service we contracted, regardless of circumstances. This would lead to much bigger problems of "predatory lenders" as the only people who have control of prices would be the select "elites" in DC.

[hokieneer17]

watch this

watch?v=k-likGrMGHA

[Joyriser]

Are you watching everybody!Another bank failing and the worst depression since the thirties.If you are working, keep working hard as they will need your taxpayers money to bail out the greedy and incompetent! Happy days!

[Wabiisabii]

Ohh shit sounds like the Rats/Neocons/Snout Monsters are jumping ship.