NeedToUseYou
Posts: 2297
Joined: 12/24/2005
From: None of your business
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ORIGINAL: corysub
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ORIGINAL: OneMoreWaste
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ORIGINAL: NeedToUseYou
Anyway, I'm happy LEH died, old money, needs to die off from time to time, its natural. I'm just saddened that the biggest crooks will be allowed to live.
Now that's the one thing you *can* bank on!
Weird how all those billions of dollars just vanish into thin air, ain't it? *poof* Like they never even existed in the first place...
I don't understand. What "old money" is it that died? None of the senior management of Lehman are "Lehmans".
Bobby Lehman died decades ago and donated 3,000 pieces, most of his rare art of Monet, Manet, Rembrandts, and his particular focus on Italian Renaissance, to the Metropolitan Museum for the enjoyment of the public.
How could anyone be "happy" that about 25,000 people, most just hard working people paying bills, raising kids, and paying the rent...not "old money...are now out of work, and in an industry where the odds are pretty poor that more than a relative few wil find work in the financial sector.
Have we lost our humanity? You know...some people look at a corporation like Lehman Brothers dying the way they look at a war movie and planes being shot out of the sky. All they see is the flaming structure of the plane hitting the ground and don't see the man in the cockpit, burning up, feeling his pain, knowing he has seconds to live. We never think that at that very instant there might be a mom, a wife, children, a lover, thinking of him and praying for him. Instead we root for the "good guys" whomever they might be. In America these days, tens of thousands of people are seeing their lives, their dreams, going down in flames. Can't we take a second to try to feel some human emotion towards them...and than get on with the dirty business of blame, casting stones at each other, and politics at its worst.
There is so much bitterness and hatred of each other in our country, and it's being fed by a press bent on opening every wound, detailing every wart, every deficiency and pitting rich against poor, black against white, male against female, and just putting all of us in one box or another, and than watching gleefully as we all fight it out. And that slice and dice, "de-humanization" of our society is more of a problem than the cyclic moves in the economy and, in my view, will be what ultimately destroys our young democracy.
No, I don't feel bad when over leveraged investments go bad. Sorry. They deserve it. They gambled they lost. They knew exactly the risks they were taking and the possible outcome they wagered they would make good profit, they were wrong. What's to feel bad about. You must think they were working for the public good or something. They were working to enrich themselves, which is not bad, but they got in over their heads, and drowned. If it had worked out they certainly would be sending anymore money than was forced to be given to the government coffers. It's their risk, their failure, for once. Good.
What? Should I approve of the Fed printing another 50 billion so their dreams can happen, at the expense of millions of other americans. NO. I applaud because failure wasn't rewarded, and they had to eat it for once. Countrywide was absorded using a diversion of risk to the Fed which is essentially a transfer of risk to anyone holding US dollars. Same with Bear Stearns. I'm happy because those that took the risk took the loss. A rarity in modern day America.
Anyway, you can feel sorry for them if you like, knock yourself out. You can still buy LEH shares if you want last I looked it was trading at .21 cents. You might be able to give an opportunity for one of them to sell there stock to you and keep a bit of there money to feed their starving children.
Actually, I'm hoping a couple more fail, and a bank run happens, maybe that will shake things up enough for some needed changes to take place. IMO.
OH, I'M SO EVIL.
Whatever
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RE: Latest on Merrill Lynch and Lehman Brothers - 
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