Lehman Merrill Lynch AIG Fannie Freddie WaMu Madoff Citibank saga

[Uncle Max]

Quote of the day:

The director of the Federal Housing Finance Agency, which controls Fannie and Freddie, suggested Tuesday they could loosen lending standards to help more homebuyers qualify for a loan and stabilize the market.

Lets loosen underwriting standards even more and we will be back to happy days again... may be for a year or two, because not every CEO collected big bonus before crisis.

 

[cvua]

With all those pieces of Lehman being acquired all over the world, I wonder if any of those businesses would be kept under Lehman brand name

 

[Uncle Max]

I don't thin anyone will stay under Lehman's name. It used to be a very good brand name but now it's not.

 

[thetrystero]

how much of the crash could be attributed to market sentiment sway due to the barclays withdrawal on sunday? i.e. would lehman have survived if barclays did not make a bid in the first place?

if so, shouldn't there be some kind of ruling against this, failing which we'll start seeing people "pulling the barcap" to gain possession of borderline failing companies on the cheap?

 

[doug reich]

how much of the crash could be attributed to market sentiment sway due to the barclays withdrawal on sunday? i.e. would lehman have survived if barclays did not make a bid in the first place?

None and no? Barclays withdrew their bid on Sunday. Lehman declared bankruptcy immediately afterward. Markets played no role at that point, and the deal was a last-ditch effort to salvage the business.

 

[Andy Nguyen]

This is no longer a Lehman thread but rather chain events that rocked Wall Street the last 3 weeks.

Latest news
Wamu - the nation's larget Saving and Loan failed. FDIC took over. JPMorgan just bought the saving branch from FDIC.
We probably will see the market plunge a few hundred points tomorrow morning. Sad.

 

[Yan He]

Bye, WaMu. Next! Who is next?!!

 

[IlyaKEightSix]

Who's next? Morgan Stanley, if anybody. That's a big *if* though. But given another big-name failure, it's MS imo.

The real question is how many of these failed institutions can JPMorgan absorb before it starts to feel the effects of the toxicity on its sheets?

 

[alain]

Ilya, you really have no idea what you are talking about sometimes

 

[IlyaKEightSix]

You're right. These are just my opinions. In my defense though, when Bear went under, I said if there'd be another Bear, it'd be Lehman. When GS was at 100, I said to my investment management group to get in.

But it seems I'm wrong on this case.

 

[Yan He]

Who's next? Morgan Stanley, if anybody. That's a big *if* though. But given another big-name failure, it's MS imo.

The real question is how many of these failed institutions can JPMorgan absorb before it starts to feel the effects of the toxicity on its sheets?

Sounds like you have insider news that we don't know

Jamie Dimon is certainly the big winner here. He wanted to take over WaMu in March for $4/share. Now, he can just cherry-pick the deposits wihout taking the liabilities!!!
I was wondering for the past 2-3 days, all in a sudden, Wall Street was just want to tear down this Giant---WaMu was downgraded to "Junk" first, and the last few mins of each closing bell, the price slumped a lot...only crocodiles on the Street could make a move like that.

:-k

 

[IlyaKEightSix]

No, just guesses. But I'm young and very much prone to mistakes.

 

[Andy Nguyen]

Ilya,
I think your posts are ...interesting. You definitely should share them with the good folks on NuclearPhynance and Wilmott?

 

[Stefan Zota]

Ilya,
I think your posts are ...interesting. You definitely should share them with the good folks on NuclearPhynance and Wilmott?

Thanks for the sites Andy. The second one looks interesting. In my "spare time" I will look around the information on wilmott ...

 

[Andy Nguyen]

A tally of the amount each bank has written down so far. It's a Who's who of the financial world.

 

[doug reich]

A very interesting collection, Andy. Where did this come from?

 

[Andy Nguyen]

Creditflux
You can download it on the right panel of the site.

 

[doug reich]

OK, but you need a membership to do that, it seems. (I assume the link is the $400b writedowns one)

EDIT: Or a trial issue?

 

[charlesdwright]

OK, but you need a membership to do that, it seems. (I assume the link is the $400b writedowns one)

EDIT: Or a trial issue?

A trial issue is worth it. Creditflux was great reading when I had a trial subscription, and was able to access the data then, as well.

 

[IlyaKEightSix]

A tally of the amount each bank has written down so far. It's a Who's who of the financial world.

What the?! Bear only wrote down 300 million more than GS yet GS comes out ahead in this mess while Bear gets crushed?

I'm not quite sure I get the whole picture from this file.