Ask not, what can my Bank do for me but what can I do for my Bank..

[Mick Mac]

BBC currently showing "The Love of Money"

Its interesting in that its format is like that of a disaster movie. The fall of Lehmans is a fantastic story.

This guy at head of Lehmans, Dick Fuld, made multi millions and scared people into taking big risks - these types of characters dominate Wall Street and the City - the types you really don't mess with.

Lehmans was the prime casualty and it meant hardship for a while - whether we are through most of it, who knows? Lehmans has gone, a big player had to go I guess, it was a wake up call for the financial world. It had to happen for other financial institutions to take their exposure and risk seriously.

The UK government refused to allow Barclays to save Lehmans in refusing to allow the UK taxpayer to guarantee Lehmans debts.

Lehmans was cut loose. This was the beginning of the correction. The end of the gravy train for many.

I hope that all those who have lost employment get employment soon - I'm not taking that lightly and this thread does not have any intended direction - its just a fascinating subject, and we still do not know how the economy will pan out.

Views welcome.

Credits to TLS for the thread title, which makes me laugh every time I read it.

[????]

I thought it was fantastic......I particularly liked the fantasy of all the Masters of the Universe, regulators and politicians (and I include Gordon and Alistair in this) talking as if they were nothing to do with the whole shower of sh1t and it was all that Dick Fuld, and no doubt in next week's edition, Sir Fred's fault....but us? Leave it out....

[????]

Top notch stuff, seriously

[Mick Mac]

Good ????. But I'd expect it to be your cup of tea, with a username like yours.

I enjoyed it more than last night's football. Honestly.

Has not had many posts though. Noone interested in finance in the Lounge - maybe it will be the first ever thread to be "Drawing Roomed".

[HAL9000]

The Love of Money made no mention of the alleged role played by ex-Goldman Sachs employees in the demise of Lehman Brothers.

This article by Matt Taibbi is well worth reading despite its length: The Great American Bubble Machine

[Tony.London Suburbs]

The Vice-President of Lehmans was on Hard Talk the other night.

Usual excellent programme but the Guy was absolving himself of most of the blame, which seemed to be placed, squarely, on the shoulders of the Public.