Comments on: Financial Times: BofA, JC Flowers, CIC Joint Lehman Bidders

By: Richard Kline

Richard Kline — Sat, 13 Sep 2008 11:05:00 +0000

'A forced sale of Lehman Brothers at a fire sale price . . . .'

"Yes, friends, we are more indeed prepared to sell you some of our fire so that you can burn down your house, too. We have all the rapid oxidation that we need, so we'll make this opportunity available to you for a nominal fee, hardly more than the price of a ticket to get out of Dodge and a cup of coffee from the station vending machine while we wait for the stage. Sign here, please [stone chump sucker]."

No one could even put a figure on Lehmann's possible losses, but still there are buyers. The only way to buy them isn't even to take them for free but to be paid to haul the stuff away.

"Oh, yoo-hoo, Uncle Feddie, I think I'd like $30B just like Jippy Morgan got for throwing his body on the burning bush in March. Is that a yes?"

By: dolores

dolores — Sat, 13 Sep 2008 02:16:00 +0000

I learn more on that stupid facebook about what is going down at Lehman. Jeez.

By: dd

dd — Sat, 13 Sep 2008 02:08:00 +0000

The FT is for shit as is WSJ. Only the Fed and Treasury know what is going down. There is no credibility anymore anywhere because only the Fed and Treasury have relevant info and heavens knows who else has access. The rest is just details.

By: mxq

mxq — Sat, 13 Sep 2008 02:06:00 +0000

oh great…one more deal jc flowers can walk away from…(Slm, n. Rock, friends provident, and counting…)

By: Jesse

Jesse — Sat, 13 Sep 2008 02:05:00 +0000

NY Fed Holds Emergency Meeting to Discuss the Fate of Lehman

http://jessescrossroadscafe.blogspot.com/2008/09/ny-fed-holds-emergency-meeting-to.html

By: Matt Dubuque

Matt Dubuque — Sat, 13 Sep 2008 01:22:00 +0000

As usual, the FT provides the SCOOP that investors need to know to make informed decisions. DECISIVELY the best paper in the world, period. And not just for finance; they opposed the Iraq war BEFORE it started….

In this 3.5 minute video at FT.com, the Banking Editor of the FT who broke this particular story adds further essential detail to the story giving it even more credibility:

http://tinyurl.com/49ag5l

Matt Dubuque

By: Anonymous

Anonymous — Sat, 13 Sep 2008 00:55:00 +0000

I think it’s interesting that Paulson is floating that he’s “adamant” about not using Fed or Treasury money on this one. That will be one hell of a big tree to climb down from if it turns out to be the only way to fix this, and I don’t see them allowing Lehman to fail.

Perhaps that means he knows there is a deal incoming, and is taking advantage of the opportunity to look tough.

By: curious-er

curious-er — Fri, 12 Sep 2008 20:26:00 +0000

I think Paulson means it this time. No help for Lehman from the Fed. So either somebody will buy it for “pennies” over the weekend, or they’re gone.

No rate cut, either. Come Monday morning, the markets will be disappointed, I think.

By: Anonymous

Anonymous — Fri, 12 Sep 2008 19:57:00 +0000

and a free 30 Billion from the Fed?

By: Stuart

Stuart — Fri, 12 Sep 2008 19:44:00 +0000

Now JPM rumours. Have lost count now….