Lehman Bros - deed

[Gunga Din]

As much as I understand the common dislike of these bankers and their ilk, my wife is/was employed as a back office/support manager there in Canary Wharf. No bonus, ok salary, just like many people. Heard last week that we are expecting our first little 'un and today told her job is over, no redundancy payment and very unlikely to get this month's salary this Friday. Upward and onward.

 

 

its all well and good people sneering, but this will effect the vast majority of people in the country, peoples pensions and investments acan be affected, credit harder to get, proprty prices falling, negative equity, its just not pretty

[Guest Scot]

its all well and good people sneering, but this will effect the vast majority of people in the country, peoples pensions and investments acan be affected, credit harder to get, proprty prices falling, negative equity, its just not pretty

 

Absolutely right. We can all enjoy the thought of the pin-striped Porsche-drivers getting whacked, but the downstream effect hits all of us. Houses galore up for sale round our way and none of them are selling.

[Snookie]

its all well and good people sneering, but this will effect the vast majority of people in the country, peoples pensions and investments acan be affected, credit harder to get, proprty prices falling, negative equity, its just not pretty

Completely agree. Was interesting to see the first reaction of more than one person on here was to consider how it was going to effect United. Sometimes I despair of the stupidity that some seem to consider to be part of being a 'proper' football fan.

[pipnasty]

Absolutely right. We can all enjoy the thought of the pin-striped Porsche-drivers getting whacked, but the downstream effect hits all of us. Houses galore up for sale round our way and none of them are selling.

 

 

Shouldn't we be directing our anger towards the c**** who have made this happen in the first place then?

Edited September 15, 2008 by Pipnasty

[Gunga Din]

Shouldn't we be directing our anger towards the c**** who have made this happen in the first place then?

 

dunno, but if you're happy to see tens of thousands of people out of a job, and millions of others suffering through the knockon effects of banks collapsing, then post all the smilies you want.

[pipnasty]

dunno, but if you're happy to see tens of thousands of people out of a job, and millions of others suffering through the knockon effects of banks collapsing, then post all the smilies you want.

 

 

 

Dunno?

 

Are these c**** untouchable or something?

[Tosh]

Shouldn't we be directing our anger towards the c**** who have made this happen in the first place then?

and who would that be?

[Gunga Din]

Dunno?

 

Are these c**** untouchable or something?

 

i was being flippant, but anyone wanting banks to collpase to punish the few at the every top, at the expense of all those who may lose savings, investments, pension value, jobs, their homes, is, pure and simply, a c***.

Edited September 15, 2008 by Gunga Din

[pipnasty]

and who would that be?

 

Well, lets start with those who have authorised high risk inappropriate lending. Or the bankers who 'lost confidence' in their own investements. Or even those involved in the whole sub prime fiasco.

 

Obviously not the whole and complete picture but it's a good start.

 

Unless of course you think that people posting smilies are the real problem

[muleskinner]

Completely agree. Was interesting to see the first reaction of more than one person on here was to consider how it was going to effect United. Sometimes I despair of the stupidity that some seem to consider to be part of being a 'proper' football fan.

 

Whilst joining Mr Cockles in wishing ill on Utd at any time, I think you may have taken it a bit seriously.

[Noel Street]

 

fantastic, isnt it. the first thing they said to me today as i turned up for my first day was not to worry, because my job's safe

 

 

when you find some of the other lemons who work in our office you really won't be surprised

[Guest Scot]

Shouldn't we be directing our anger towards the c**** who have made this happen in the first place then?

 

If you can identify then, yes. I'm no expert on this so take it for what it's worth, but I think there's a structural component - how the markets are allowed to work - and a human component. A lot of people have over-stretched through greed and materialism, meaning that they were vulnerable to changes in rates. Many people I know have financed holidays, building projects and cars through home equity lines and then got crushed when the climate changed. Not all people, of course but it's a part of the issue.

 

Like I said before, I quite enjoy the pinstripes getting canned, but can't get quite so excited about tea-ladies and support staff getting paid off and home-owners dealing with negative equity.

[pipnasty]

If you can identify then, yes. I'm no expert on this so take it for what it's worth, but I think there's a structural component - how the markets are allowed to work - and a human component. A lot of people have over-stretched through greed and materialism, meaning that they were vulnerable to changes in rates. Many people I know have financed holidays, building projects and cars through home equity lines and then got crushed when the climate changed. Not all people, of course but it's a part of the issue.

 

Like I said before, I quite enjoy the pinstripes getting canned, but can't get quite so excited about tea-ladies and support staff getting paid off and home-owners dealing with negative equity.

 

I agree with that.

 

Nobody wants to see yer average person who has worked hard for what they have lose everything they have. That goes without saying.

 

But the sooner we realise that the greedy companies and greedy individuals behind this aren't the Masters of the Universe that they, and others, believe they are, the better we will all be.

 

I think there is a danger of blaming the squaddies for Iraq.

Edited September 15, 2008 by Pipnasty

[Sir Tokyo Sexwale]

strange how Wayne bails his last job & financial markets go into meltdown.

 

Wayne = Nick Leeson

[John am Rhein]

and who would that be?

 

Doze illuminati basstidzz!

[Noel Street]

strange how Wayne bails his last job & financial markets go into meltdown.

 

Wayne = Nick Leeson

 

 

i work at the same place

[Gethin]

Does anybody here work in Financial Services?

 

Yes - and for a large American bank, fortunately one that's not very exposed to what;s going on at the moment.

 

Odd day in the market today - was expecting huge trading volumes but it was almost like the market was drawing breath before working out what the f*** to do. Lehmans going is going to cause a large loss of liquidity in the markets. There's also going to be a big "WTF" about the unsettled trades with them from the a*** end of last week.

[Falconhoof]

Gunga Din and Han do jin at work today

[Romario]

So how does this effect uk banking at the moment? Are we going to have more Northern Rock scenarios with the big guns like Barclays and HSBC? Could they possibly fold or are they protected somehow? Does the government step in and stablise them if need be? Isn't that better in the long run?

 

I remember someone saying on here I think that you don't have to worry about your mortgage as the bank has loaned to you so they'll just sell it on but that your savings if you have any is what you should worry about in these situations.

 

Just watching news night and they paint a very scary picture, more for america but the spill over here is will be scary too.

 

Sorry for all the questions but I'm fairly clueless on all this.

[Tetti]

Yes - and for a large American bank, fortunately one that's not very exposed to what;s going on at the moment.

 

Snap.

 

Long f'ing day today. Just home. That is two Mondays in a row wiped out, after the LSE debacle last week. Back in early tomorrow for more fun from Asia Pac. Japan reopens tomorrow, should be fun

[vish]

Where's Vish?

 

My ex employers.. Left my job there in March.

Edited September 15, 2008 by Vish

[New York Red]

Absolute slaughter on the street today. 19:1 losers to winners. 500+ Dow drop.

 

Tom and George. You are done guys. Done.

[fyds]

Absolute slaughter on the street today. 19:1 losers to winners. 500+ Dow drop.

 

Tom and George. You are done guys. Done.

If what I've read in the last 6 months or so is right - Tom most certainly can't be far away.

[cymrococh]

I agree with that.

 

Nobody wants to see yer average person who has worked hard for what they have lose everything they have. That goes without saying.

 

But the sooner we realise that the greedy companies and greedy individuals behind this aren't the Masters of the Universe that they, and others, believe they are, the better we will all be.

 

I think there is a danger of blaming the squaddies for Iraq.

Gloating is a bit ridiculous though, the ones making the decisions and making real money will still be alright

[fyds]

Gloating is a bit ridiculous though, the ones making the decisions and making real money will still be alright

There'll be a few casualties in the aftermath as boards and shareholders wonder how the hell they ended up so exposed, but you're right - most will carry on sweetly - possibly somewhere else or retire to live off their Cayman.Virgin Islands accounts.

Edited September 16, 2008 by fyds