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RIP LEH, Bac buys Mer, Bear Sterns done........
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Nalod
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9/15/2008  9:22 AM

Wall st. buys lots of Knick tix?

Loss of sponsers, loss of boxes, loss of revenue.

Merrill has a parent of all things is domiciled in Charlotte, NC!!!!!

This morning the financial world changed.

This morning, fortunes have been realized down.
AUTOADVERT
holfresh
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9/15/2008  9:45 AM
Sad stuff...AIG and WaMu on deck...UBS keeps taking write downs...Something has to give...Stock mkt has to take a hit at some point...With all the the bad news out the last year, the market has been holding well considering...It needs a good flushing out..Lehman and Merrill is a start...Fed has to cut..ECB might be going...This can get really ugly and be wide-ranging outside of the Financial sector...

I was at work last night and had to pass the Lehman building on 7th Ave..Sad to see many employees outside behind barricades at midnight just waiting to get their stuff inside..Cops outside and News trucks all over the place..Sad Stuff...Fortunes were lost over the last year at Lehman...
OasisBU
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9/15/2008  10:07 AM
Bear and Lehman are just the tip of the iceberg...
"If at first you don't succeed, then maybe you just SUCK." Kenny Powers
bitty41
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9/15/2008  10:12 AM
Posted by OasisBU:

Bear and Lehman are just the tip of the iceberg...

Yea it appears that this is just the beginning of the end.
arkrud
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9/15/2008  10:18 AM
After pulling so much easy money out of the air somebody need to pay.
And this will be a bunch of folks at the bottom of the pyramid.
I mean us...
Savings and salaries are inflated. 401K going into the drain.
Home prices down and the borrowing rates up. Jobs are hard to get by and more and more layoffs coming.
Buckle up for tuff ride America!!!

"There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy." Hamlet
Markji
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9/15/2008  10:44 AM
It is wild. I hope the US economy can recover from all of this. US Govt debt keeps skyrocketing. Bailouts of banks; the war alone will cost us over $1 trillion which is all debt that someone, at sometime will have to pay back. Meanwhile interest payments on the US debt are huge. Dollar has to fall in value. Gold and silver should rise. I can't understand why they haven't gone throught the roof yet?


[Edited by - markji on 09-15-2008 09:45 AM]
The difference between fiction and reality? Fiction has to make sense. Tom Clancy - author
BRIGGS
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9/15/2008  11:17 AM
All that happened here was death. They will be reborn with different names and everyone including all of the big foreign countries will pay up.
RIP Crushalot😞
Nalod
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9/15/2008  11:22 AM
I think this is not the beginning of the end but the final chapter is being written.

Not today, but finally after a year or more of pending writedowns your seeing what has been feared, and that is the start of healing. Actualizing the disease is the first step to healing.

Some banks will go down the fire sale route, but this is better than the Japanese methoed that took them 15 years of sideways to down movement becasue they cuturally did not want to lose face and admit the system we broken. We tend to go to the other extreme of the scope and over do it. Which is healthier at least.

Firms come and go. Drexel, shearson, soloman, DLJ, Bache, Paine Weber, EF hutton, etc etc are a long list of names gone by. Merril married to a bank is a trip to think of.

Born from disaster are opportunities........To regulate, legislate, and fix the system.

Until the next disaster hits..........
Elite
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9/15/2008  11:34 AM
so what happens if you have a negative ballance in washington mutual accounts and the bank goes under LOL are you off the hook????
Cartman718
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9/15/2008  12:54 PM
I work at SunTrust and we're trying our best to keep JP Morgan at bay!!!
Nixluva is posting triangle screen grabs, even when nobody asks - Fishmike. LOL So are we going to reference that thread like the bible now? "The thread of Wroten Page 14 post 9" - EnySpree
Nalod
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9/15/2008  12:55 PM
Posted by Elite:

so what happens if you have a negative ballance in washington mutual accounts and the bank goes under LOL are you off the hook????


Nope. But you might could renegotiate the terms.
loweyecue
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9/15/2008  1:17 PM
Posted by arkrud:

After pulling so much easy money out of the air somebody need to pay.
And this will be a bunch of folks at the bottom of the pyramid.
I mean us...
Savings and salaries are inflated. 401K going into the drain.
Home prices down and the borrowing rates up. Jobs are hard to get by and more and more layoffs coming.
Buckle up for tuff ride America!!!


Others are paying too, Lehman CEO lost Six Hundred Million of his networth that was in comany stock.


TKF on Melo ::....he is a punk, a jerk, a self absorbed out of shape, self aggrandizing, unprofessional, volume chucking coach killing playoff loser!!
Paladin55
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9/15/2008  1:21 PM
Posted by Nalod:
Posted by Elite:

so what happens if you have a negative ballance in washington mutual accounts and the bank goes under LOL are you off the hook????


Nope. But you might could renegotiate the terms.
Hell, forget about bank accounts or credit card debt.. My mortgage (fixed, not variable) is being held by WaMu.

Time to read the fine print.


[Edited by - Paladin55 on 09-15-2008 1:22 PM]
No man is happy without a delusion of some kind. Delusions are as necessary to our happiness as realities- C.N. Bovee
kam77
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9/15/2008  1:21 PM
Meanwhile, our fossil-fuel based economy hurtles headlong into the abyss as Peak Oil hits. We will be LONGING for the days of $4 a gallon in a few years.
lol @ being BANNED by Martin since 11/07/10 (for asking if Mr. Earl had a point). Really, Martin? C'mon. This is the internet. I've seen much worse on this site. By Earl himself. Drop the hypocrisy.
Paladin55
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9/15/2008  4:06 PM
Posted by kam77:

Meanwhile, our fossil-fuel based economy hurtles headlong into the abyss as Peak Oil hits. We will be LONGING for the days of $4 a gallon in a few years.

Gosh, haven't you heard that John "Integrity" McCain and Sarah "Mavericka" Palin have the answer to your energy fears?

Drill baby drill!
No man is happy without a delusion of some kind. Delusions are as necessary to our happiness as realities- C.N. Bovee
BRIGGS
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9/15/2008  4:14 PM



RIP Crushalot😞
GKFv2
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9/15/2008  4:21 PM
9/11 lead to their downfall. Seriously.
Thank you, Rick Brunson.
Nalod
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9/15/2008  4:23 PM
Posted by Paladin55:
Posted by Nalod:
Posted by Elite:

so what happens if you have a negative ballance in washington mutual accounts and the bank goes under LOL are you off the hook????


Nope. But you might could renegotiate the terms.
Hell, forget about bank accounts or credit card debt.. My mortgage (fixed, not variable) is being held by WaMu.

Time to read the fine print.


[Edited by - Paladin55 on 09-15-2008 1:22 PM]


Wamu or whom ever takes over can sell the paper (your mortgage) and you will still owe it. If they go out, you still owe somebody.

The Gov't may provide a fund to HELP those by PERHAPS a way to refinance at a subsidized rate for time specific. This helps forclosure rates for both the homeowner and the banks that end up with homes they need to sell.

This remains to be seen.
arkrud
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9/15/2008  5:01 PM
Posted by loweyecue:
Posted by arkrud:

After pulling so much easy money out of the air somebody need to pay.
And this will be a bunch of folks at the bottom of the pyramid.
I mean us...
Savings and salaries are inflated. 401K going into the drain.
Home prices down and the borrowing rates up. Jobs are hard to get by and more and more layoffs coming.
Buckle up for tuff ride America!!!


Others are paying too, Lehman CEO lost Six Hundred Million of his networth that was in comany stock.


So sorry for him... he went from billionere to multi-millionere. He may shot himself... Pure guy...
"There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy." Hamlet
93BUICK
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9/15/2008  6:49 PM
Hire my jazz band for rent parties!
If you are still following the team and reading sites like this, there is nothing, short of your own demise, that is going to throw you off this train.
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RIP LEH, Bac buys Mer, Bear Sterns done........
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