Jimi Posted September 15, 2008 Report Share Posted September 15, 2008 $70billion fund by 10 banks just announced. WTF are they going to each find $7b each? Link to comment Share on other sites More sharing options...
Trader Joe Posted September 15, 2008 Report Share Posted September 15, 2008 oops Link to comment Share on other sites More sharing options...
capitall Posted September 15, 2008 Report Share Posted September 15, 2008 Moran Report Banks seen offering plan to restore confidence Sunday September 14, 7:51 pm ET By Joe Bel Bruno and Marty Crutsinger, AP Business Writers Lehman's future in doubt, banks seen unveiling plan to restore confidence in financial system NEW YORK (AP) -- As the outlook for Lehman Brothers appeared to dim Sunday, U.S. and foreign banks joined forces to create a plan aimed at inoculating the global financial system against the investment bank's possible failure, a top investment banking official said. Banks were in tense talks to create a pool of money worth up to $50 billion to lend troubled financial companies, the official said on condition of anonymity because the discussions were ongoing. And officials at the U.S. Treasury and the Federal Reserve were expected to announce they are prepared to be more generous in the Fed's emergency lending program for commercial and investment banks. The Lehman talks originally were aimed at selling the investment bank in whole or in part. The deal was tripping on the potential buyers' insistence that they receive the same kind of help that Bear Stearns Cos.' got last March when JP Morgan Chase & Co. bought the securities firm with a $29 billion Fed-backed loan. Treasury Secretary Henry Paulson has said the government will not help close a Lehman deal, and it was clear late Sunday he was not budging. "If Treasury put money into the Lehman deal, then going forward no deal would get done without Treasury help," said Mark Zandi, chief economist at Moody's Economy.com. "Every potential buyer would wait until Treasury stepped in and that would mean Treasury would be on the hook for a lot more bailouts." The current situation is different from Bear Stearns' situation six months ago. In Lehman's case, financial markets have been aware of Lehman's problems for a much longer period and have had time to prepare. Investment banks also now have the ability to obtain emergency loans directly from the Fed, a crucial support that they did not have back in March when Bear Stearns was rescued. 688283[/snapback] I have to give Hank an award this time, for refusing to make the taxpayers bail out Lemon and then very likely everyone else that needs a bailout from here on out. Good job on this one, Hank! Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 Dollar testing the earlier low of 78.30. Link to comment Share on other sites More sharing options...
bearmarketymark Posted September 15, 2008 Report Share Posted September 15, 2008 Thain did a great job by not waiting until it was too late like "Dick" Full-of-himself-Fuld. Leave it to an engineer by training to take the analytical approach....just the facts baby, check your emotions at the door. BAC: Looking for offer on ML Thain: No offer BAC: $29 bid Thain: Done @ $29 Full Disclosure: I am a John Thain fan. 688356[/snapback] BAC shareholders just got #####'ed----again. if there was ever a take "under" candidate!!! UFB Long Thain/Short Fuld Link to comment Share on other sites More sharing options...
shorty Posted September 15, 2008 Report Share Posted September 15, 2008 it's like a garage sale with people buying up all kinds of crap, nobody wants to be left out, everybody wants to grab something.....could be a feeding frenzy on LEH, everybody wants to brag about being a vulture, have a piece of flesh to show off Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 78.23 Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 78.20 Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 78.19 Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 78.16 Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 78.14 Link to comment Share on other sites More sharing options...
Charmin Posted September 15, 2008 Report Share Posted September 15, 2008 They're chanting in Galveston/Houston after two days We want Power! We want power! Hold on, the Calvary is Coming http://www.livenewscameras.com/map.html Link to comment Share on other sites More sharing options...
Private Skidmark Posted September 15, 2008 Report Share Posted September 15, 2008 They're chanting in Galveston/Houston after two daysWe want Power! We want power! Hold on, the Calvary is Coming http://www.livenewscameras.com/map.html 688380[/snapback] We haven't had power for most of human history. How quickly we forget and become dependent. Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 1 day cycle projection on dollar index 77.65 Link to comment Share on other sites More sharing options...
DrStool Posted September 15, 2008 Author Report Share Posted September 15, 2008 lets call it a range of 78-77.65 Link to comment Share on other sites More sharing options...
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