Lehman Brother Holdings faces bankruptcy

[Kauri]

Today's Daily Mail:

You can lead a Lemming to a cliff butt....

incidentally if this doesn't help out IVC nothing will..

Cheers
..........kauri

 

[fimmwolf]

why am I suddenly feeling like the only safe place for my money is in an old biscuit tin in the pantry :run:

 

[dhukka]

It's a good point sassa, remember B of A overpaid enormously for their first stake in CFC at $18 a share, subsequently they bid $7 and change for the rest of the company and there is still a large possibility that they will revise that bid significantly lower. It's clear these guys don't have a clue what they're doing.

Merrill has to know that they are next so it is little wonder they are shopping themselves. If B of A pays anywhere near the quoted figures they are nuts. They should also expect a ratings downgrade.

The stockmarket gave a big bronx cheer to the BofA / Merrill deal with MER closing flat at $17 and BofA falling -21%. The ratings agency also didn't think it was such a hot deal.

Bank of America emerges from the frenzy with Merrill Lynch to lead 'thundering herd'

Standard & Poor's, the rating agency, immediately poured cold water on the deal, as did the stock market, where Bank of America shares tumbled by 14 per cent. S&P cut its credit rating for Bank of America and said that it might cut it again. The ratings agency gave warning that the deal would put further strain on the bank's capital after its purchase in July of Countrywide, the mortgage lender.

 

[Green08]

Now Lehman Brothers in england are demanding Lehman Brothers in New York repay $8 Billion they sent to them a few days before the bankrupcy. Now what happens?