Come on Hanky. Get that PPT going! Hop to it old boy! Get us out of this mess! Get those printing pressing going!
So Lehman will still probably get bailed out tonight, maybe not until the last moment. Paulson says no taxpayer loot this time, but ah, our friend Moral Hazard doesn't think so. It's called precedent, and Paulson screwed that pooch.
So, who's gonna be next Sunday night's announcement?
Gotta love a good Hail Mary pass...
Barclays Withdraws From Lehman Talks Over Credit Guarantees
Fed's options limited if Lehman talks fail
[UPDATE 1 - 8:36PM GMT - STILL NO BAILOUT OR BAIL-IN FOR LEHMAN. THIS MAY BE THE MOST IMPORTANT NIGHT IN THE HISTORY OF CAPITALISM. IF NO DEAL IS ANNOUNCED IN THE NEXT FEW HOURS, AND PAULSON IS TRUE TO HIS WORD, THEN THE ENTIRE PONZI SCHEME WILL COLLAPSE AS THE COUNTERPARTIES PANIC AND UNWIND, AND THE TAXPAYER'S FANNIE/FREDDIE AND BEAR BAILOUTS WILL HAVE BEEN FOR NOTHING]
HERE'S A GREAT PIECE BY ROUBINI. READ ONLY IF YOU'RE IN THE SHELTER
September 14, 2008
Uh, it's 6:45pm GMT, Asian markets open later tonight, and PAULSON STILL NO SUNDAY NIGHT LEHMAN BANKRUPTCY OR BAILOUT ANNOUNCEMENT FOR US?
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20 comments:
Gee, I wonder why no one wants to buy 5 trillion plus of liabilities, in high-grade, well-packaged feces?
Now, watch the dominoes fall...
asian markets are closed Monday.
Headlines from Reuters, noon, Sunday:
Special U.S. trading session involving credit, equity, rates, forex and commodity derivatives and aimed at reducing risk related to Lehman bankruptcy opened between dealers and Lehman counterparties: ISDA
Dominos are lining up and we ain't talking pizza.
JaneZ
Roubini states that Lehman's BK may just trigger the systemic collapse that we have all been waiting for.
He has argued that all of these toxic investment banks will be gone within the next 2 years.
Got gold?
I spent the morning sending email to every congress person that I had voting ower over this morning.
I let them know that arrests should come before bailouts. A bailout precedes a criminal event therefore in every bailout situation there ought to be a line of CEO's against a wall...in essence these bailout become criminal-less crimes. We need to flood our representatives with angry mail that demands justice. Of course these were the people who benefited the most from the scams and ponzi schemes.
Hey Keith,
Please let us know how we can organize...Democrats, Republicans, Independents all can come together in this effort. We may differ on the solutions and other social policies but WE all stand to loose with these financial policies. No party can disagree about the mess we are in. Just no one will recognize it as an issue. Our voice needs to be heard. Just complaining on this blog is not enough…we must take action. Maybe start a thread on what we can do…I know where my emails to representatives end up…the trash bin. We need to hit these people where it hurts..their campaign and re-election fund ad votes. If they will not do this because of moral rightness, then we need to shame them into passing law to fix this ASAP! George Bush will go down as a failure because of this economic WMD that he let go un-noticed, the Iraq war will be a simple footnote on his legacy.
The Screwed Pooch
I think we're going to see bank runs (once people realize Lehman is just the first to go under in the approaching storm surge). If it wasn't Sunday, I'd be at the bank now.
Do ya think anyone will jump out of a high-rise window?
Instead of bailout/bailin, shouldn't we be discussing retribution?
Got cash? Got gold?
WaMu history by next Friday PM.
Good Riddance.
Just a note on the local real estate market. There's a house I've had an eye on for 18 months. It's the usual story, flippers gone wrong.
Price is still $255k. It's come up for rent for $1k per month.
ROTFLOL.
I like my rental but I just may move.
This is so weird. Here I am, just an humble renter, and I have the world at my feet.
And I have money too. LOL.
"asian markets are closed Monday."
i think just japan
What about the bonuses on Wall Street this year? We should spend some taxpayer's money to supplement this year's X-mas bonus.
Paulson was getting blown by palin to deal with that petty stuff.
Got gold?
Sure do. How much is enough??
I am glad you started another blog for the race, but it is all connected. I just watched Lou Dobbs defending Palin saying LIBERALS, LOVE THAT WORD is attacking Palin. Lou has an audience behind him shaking their heads in digust of what Lou said.
GMT, does this mean someone's in GB?
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GOT GOLD?
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Oh come on you guys . The Treasury
already has enough short term loans on the books with Lehman ,that its a bail-out already .Lehman will go Bk and the unwind will be loans not paid back to the Feds .
anon said:
Got gold?
Sure do. How much is enough??
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If you measure your holdings in pounds rather than ounces, then you probably have enough...
Michael - China's closed.
Tax-payer's "bail-out's" would never have amounted to much anyways, except for providing a temporary life-raft for the crooks who created this problem in the first place.
Now, the life-raft is sinking, with some of the crooks on it, and trying to steal more money from tax-payers will not fix the problem.
Buy hot buttered popcorn while you can, it will soon be a primary food staple.
It's not capitalism...it's fascism.
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