September 16, 2008

Here's Lehman Brothers employees packing little brown boxes, all because nobody had the courage to ask questions when it could have mattered

Too bad nobody thought to ask "hmmm.. should we be giving loans to people with no incomes and no jobs?".

Too bad nobody thought to ask "hmmm.. maybe we shouldn't be enabling rampant mortgage fraud with these liar's loans?"

Too bad nobody thought to ask "hmmm.. isn't it kinda odd that the price of a home went up 100% in a few months, when rents and incomes are flat?"

Too bad. And now they all get to pack up little brown boxes.

(side note - looks like Lehman let their webmasters go too. but for fun you can apply for a rewarding career at Lehman online tonight if you'd like)


Anonymous said...

Sad, that could be anyone of us and most likely if things continue to go down hill it will be lots of us!

Anonymous said...

I don't feel bad for them. They helped enabled this mess. They knew what they were working for and were very happy to take the money. Now we are all paying for thier greed.

Chris said...

A lot of the people in Lehman who were responsible for pushing through toxic loans, with little to no documentation, probably left months or years ago. That's what they do...job hop from one job to the next, like a parasite jumping from one engorged host to the next...

Anonymous said...

But not to fear Greg Swann is going to clean up the industry:

"We are committed to an idea of excellence that will flush the bums, the con-men and the crybabies out of the real estate industry."

bickerer said...


YEAH, if you lost your life savings cause you listened to a realwhore, just stop being such a crybaby about it!

Anonymous said...

I'll bet New York get's a spike in Realtor license applications. They got the walk, talk, the cool ride, and best of all the ethics.

Anonymous said...

All these IBs have had plenty of time to sell assets and raise cash. Instead they sat back and kept listening to the NAR spin misters like Yun and that other guy, thinking that housing had hit bottom and that everything was OK.

Well, I guess they should have taken off the rose colored glasses and realized that their was no way in hell that homes values could ever be supported.

Now, they/we all pay the price!

What happened to all those Harvard degreed geniuses who are suppose to understand economics and risk?

Probably the money was just too good to stop and think "What If".

Bunch of idiots!

Anonymous said...

All of these people, carrying boxes? Every one an escaping criminal. Each and every one aided and abetted in the systemic rip-off that is bringing America to its knees. Let them fry in hell. Which is, based in the incomes they were getting, probably a beach front in Bermuda.

John said...

Sorry to spoil the party...

"Barclays has announced in a statement that it has reached an agreement to acquire Lehman Brothers' North American investment banking and capital markets businesses.

"The board of Barclays announces that Barclays has agreed, subject to US Court and relevant regulatory approvals, to acquire Lehman Brothers North American investment banking and capital markets operations and supporting infrastructure," the British bank said."

Quite why Barclays would want Lehman is beyond any sane persons understanding...

Anonymous said...

How strange is it that the two people that they find to interview are both foreign?

You very foreign?

Not trying to be a racist/xenophobe at all. Just find it to be...well...interesting.

Anonymous said...

I've done that - stood up to The Man.

I was fired.

Anonymous said...

Are they sniffing Cocaine inside too?

Anonymous said...

The real estate sales people knowingly put people into liar loans ,knowing that the cheat loan agents would cheat on the paperwork . Wall Street knowingly passed on junk loans to the secondary market that had not even been underwritten ,and
the rating agencies didn't price risk correctly .

Wall Street provided the money to the creeps below who took full advantage of the breach to law and order .

These people on Wall Street that were selling these junk loans made big money ,and I mean big money .
They made big money easy ,just like the realtors and the loan agents and the liar borrowers got money they didn't deserve ,and now they are walking .

All these criminals in the Great Wall Street Ponzi Scheme are being bailed out rather than prosecuted .
How do you like you tax dollars
bailing out criminals . Its not enough that these people just lose their job or borrowers lose their house they didn't put any money into .

Law and order is gone ,and it all started with the bail-outs being marketed as a public good ,when it is really a obstruction of justice .
Making the taxpayers pay for the biggest crime-wave in history .Is it Justice that some guy like Mozillo gets to retire with all his stock gains with his pump and dumb
of stocks after he made fraudulent loans and dumped them on the secondary market until he got holding the bag on his last round of deceit loans .

Mozilo actually said that he was just giving the people what they wanted . I guess a thief wants money also ,but that doesn't mean you give it to them .

It's to late now ,but the Feds should of never started this bail out BS . The companies that played with fire should of just gone down . Countrywide went down ,but not without Mozillo getting the money and making his retirement BS exit .

Wall Street is playing the Feds .
Freddie and Fannie was not insured by the government ,and any big investor knows that .

I'm just real glad that the Feds are real generous with the heathens and greedy criminal gamblers of our society while they make the taxpayers pay .

Anonymous said...

Uh some of the guys are leaving in chauffeur driven town cars. Not a whole lot of sympathy here.

Sir Harold said...

I heard they were

630 BILLION in debt

hence the reason they could not find any buyers or investors

any truth to that ?

les said...

With the huge bonuses they got from 2003 to 2007, they should be able to live without working for at least 10 years.

Don't feel sorry for these bastards. These guys would rob you of your entire net worth if they could.

Oh, that's right. They did rob us.

sundry vermin said...

>Instead they sat back and kept listening to the NAR spin misters like Yun and that other guy, thinking that...

Yeah, and that OTHER GUY was Alan Greenspan. Also, I'm not sure the use of the word "thinking" is completely accurate.

Is there a word for sheeple "thinking". Clearly it's not "thougt" in the pure sense of the word. More a combinatin of wanting, craving, fearing, herd mentality, with a couple heaping tablespoons of Suzanne's input, triangulation, connivery and a half dozen other shallow emotions.

how come said...

How come all the interviewees have Russian or Arab accents or look Asian?

brokersleaveyoubroke said...

A lot of low level people did ask questions. It's well documented that senior management knew about and approved these insane loans. The only question remaining is why aren't any of these executives being charged with criminal activity, such as mortgage fraud or lying to stockholders.

brokersleaveyoubroke said...

They did ask questions and the answer was something like "shut up or hit the road".