Jump to content

Recommended Posts

SteveT Wrote:

-------------------------------------------------------

> Lehman are apparantly the third largest, who is

> one and two?


They mean institutions that are largely and solely investment banks. One year ago:


1. Goldman Sachs

2. Morgan Stanley

3. Merrill Lynch

4. Lehman Brothers

5. Bear Sterns.


4 and 5 are gone, and Bank of America has bought Merrill, thus leaving only the top two.

Good on yer macker, did you read in private eye where the biggest council estate in the world is in USA since the government bought up fanny and johnny plus jenny and freddie (or some names like that) the two biggest mortgage brokers.


I can't understand how they are all going to the wall when the US borrowed 150 billion from china a few weeks ago.

A good friend of mine worked at Lehman's in Canary Wharf. Got in for work on Monday morning, got handed a memo basically saying clear your desk immediately. The LSE has frozen any dealing so they couldn't work even if they wanted to. Goldman Sachs and Morgan Stanley are absolutely enormous in comparison, I'm sure they're in a pretty bad place at the moment but I cant see them collapsing anytime soon. More concerned about AIG to be honest...!
I've quite a few friends at Lehman and know a lot that moved over there this year (recently). One of my friends now has to move back to Moscow due to her working VISA. Many others will also have to leave the country. It's a pretty sorry situation in the city at the moment...

I spent this morning helping a friend clear out her spare room so she can let it. She is 64, has temped as a telephonist at Lehman's for a long time (didn't accept a permanent position due to her late husband going in and out of hospital) and has no prospect of another job.


Her immediate supervisor asked the telephonists to stay on but they had no briefing; 'phones were going 19 to the dozen from the media, and no head honchos in sight.


All a bit pants for her.

As a company, Lehmans were always up their own arses IME.Though the vast majority of staff are 9-5 workers doing clerical stuff and they are the ones that will feel the pinch, not the big bonus boys - I take no pleasure in seeing the majority of its workforce having their pensions screwed and being dumped onto broadgate with their careers in a cardboard box - Loyalty ?


I would like to see Goldmans go under - they have a certain greasy smugness about them that makes my teeth grind - if Goldmans were an actor, it would be Tom Cruise in full on scientology mode - On Fleet street , they have occupied one of the most beautiful 20th century buildings in London - what a travesty.


Still, in defence of global capital, they have had a good few years caning it & churning out illiquid and opaque shite relentlessly for a while now - they will lose a few names, there will be some mergers and things will go on.in half a decade people will speak of 2008 in revered terms , business school automatons will write essays on it and the city employees will likely forget how bad it felt.


its just another blip.


Move on


nothing to see here

If AIG went down, that would be serious. They insure may of the financial deals that the banks have done with each other, if that insurance cover disappears, then those dodgy but sustainable deals will suddenly lose what little credibility they have.
Actually v good news for Merrills - BoA have v little presence in Europe so apart from investment banking there will limited job losses


Yeah, there won't be much of a cull in London because BoA are such a dollar house. They've been trying to get into the Euro Market for the last 10yrs without any real success.


Snorky

Completely agree about Goldmans, it would be worth being dragged back into the stone-age just to see them go under.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Latest Discussions

    • There’s definitely something in what you say about upbringing, environment, and emotional health. It doesn’t excuse the behaviour, but it might help explain it. I do think low intelligence likely played a role here. People who aren’t taught to value life, whether human or natural, often end up reacting with hostility to the things they don’t understand or appreciate. It’s a sad reflection of both neglect and ignorance. Your suggestion of rehabilitation through something like woodland conservation or sapling planting is actually a lovely and meaningful idea. Let’s hope something good can come of their sentence, though I won’t be holding my breath. Looking forward to meeting you in person at the Forum drinks tonight, and fingers crossed Jasonlondon makes it too. His terrible neighbours really are quite the story.
    • Direct link to livestream of closing ceremony and joint statement:  Today, the conference comes to a close with a joint statement — a historic declaration of collective action in defence of international law and human dignity. At 10:30 Bogotá, 11:30 New York, 16:30 London, 17:30 Paris, 21:00 New Delhi, join the closing ceremony live from the Colombian Ministry of Foreign Affairs. The ceremony will feature Gustavo Petro, President of Colombia; Francesca Albanese, UN Special Rapporteur on the Occupied Palestinian Territories; Zane Dangor, Director General of South Africa’s Department of International Relations and Cooperation; Varsha Gandikota-Nellutla, Executive Secretary of The Hague Group; and Fillemon Wise Immanuel, Minister of Justice and Labour Relations of Namibia. The centrepiece of the ceremony will be the reading of the Joint Statement — the result of deliberation among participating governments. This statement will echo far beyond Bogotá. It marks a turning point in the global campaign to hold Israel accountable, protect the Palestinian people, and restore the rule of international law. Join us to witness this historic moment. In solidarity, The Progressive International Secretariat
    • We had the roof on our Victorian terrace replaced in 2023 and were charged just under £12,000, which included new slates, battens, breathable membrane, leadwork, and scaffolding. The cost was mainly due to the complexity of working on an older property and ensuring everything met current building standards.
Home
Events
Sign In

Sign In



Or sign in with one of these services

Search
×
    Search In
×
×
  • Create New...