Lehman Brothers Bank

  Grey Goo 23:31 14 Sep 2008
Locked

Looks like this Bank is going under in USA, it will probably take a lot of financial institutions with it. We could all be broke tomorrow.

  jolorna 23:38 14 Sep 2008

thats life

  laurie53 08:03 15 Sep 2008

Don't think we've seen the end of this by any means.

Alitalia looks finished.

Not a direct result, but certainly part of the overall downturn.

  interzone55 09:04 15 Sep 2008

We're certainly facing difficult times ahead.
We can only hope that the banks, and bankers, learn a lesson from the massive mistakes they've made over mortgage trading.

One good sign was the statement made by Stephen Green, chair of HSBC, that bankers should only be paid bonuses for deals that have long term value to the institution...

  GANDALF <|:-)> 10:32 15 Sep 2008

It was sheer greed and gob-smacking stupidity by the bank's management and their amoral traders. People who work in bond dealing and finance are totally without emotion, consideration or regret of the effect that their dealing causes to the general public. All they could ever think about was their bonuses. If they start to lob themselves put of the upper stories, I for one, will not give a pig's burp.

G

  GANDALF <|:-)> 10:42 15 Sep 2008

ps...there is a lot that has not been told yet and if I was working for any financial institution I would be a very,very worried person indeed.

G

  interzone55 11:09 15 Sep 2008

Better start putting cordons around wall st high rises, wouldn't want innocent bystanders being hurt by falling bond traders...

  dms_05 11:19 15 Sep 2008

Daily Telegraph has a thoughtfull leader on the subject click here

  charmingman 11:29 15 Sep 2008

laurie53 you quoted "Don't think we've seen the end of this by any means.

Alitalia looks finished"

I totaly aggree with you on that one & the truth is although they have had help they have been handed there "Hat"...(Alitalia)

This is some "Big Black Hole" that just got darker & bigger...
Other Banks will Follow!!

  Grey Goo 12:14 15 Sep 2008

I can imagine the Christmas scenario at the Investment Banks. "The Chairman wishes you a Merry Christmas and a Happy New Year to some of you"

  peter99co 12:20 15 Sep 2008

Does this mean the bonusus they paid themselves will have to be given back?

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