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First Bear Stearn -- Now Lehman Bros.
Old 06-12-2008, 04:35 PM   #1
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First Bear Stearn -- Now Lehman Bros.

Is LB the next one to fall?

The jerks that were canned will probably be hired by another firm fairly quickly. However, they do not deserve to work in the industry again.

Lehman Brothers removes finance, operating chiefs: Financial News - Yahoo! Finance


Oh... the CEO should be canned also. But somehow he canned the others and is hanging on so far.
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Old 06-12-2008, 04:56 PM   #2
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I hope not. At least not until I get my 10% ROI on stock I bought while I was flopped on the couch this afternoon! Not to worry this is just a tiny portion of the portfolio.
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Old 06-12-2008, 05:20 PM   #3
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From the article,
Quote:
And while Lehman might have bought itself some more time by shaking up its top ranks, the question remains how much it has left.
Doesn't sound good!! I am shocked. (But then, I am easily shocked.)
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Old 06-12-2008, 08:18 PM   #4
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Quote:
Originally Posted by chinaco View Post
Is LB the next one to fall?

The jerks that were canned will probably be hired by another firm fairly quickly. However, they do not deserve to work in the industry again.

Lehman Brothers removes finance, operating chiefs: Financial News - Yahoo! Finance


Oh... the CEO should be canned also. But somehow he canned the others and is hanging on so far.
The CFO took on that role sept 07. She is a scapegoat, nothing more. I agree the CEO is the one ultimately responsible. I get the sense he is hoping that a few scapegoats will deflect attention from him.

DD
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Old 06-13-2008, 02:59 AM   #5
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Fuld should go... soon.


He shouldn't expect the reward of holding on to his extremely lucrative job if he ruins the company.

The board should can him... Investors should be outraged.

Dick Fuld's strategy has Lehman fighting for its life - MarketWatch
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Old 06-13-2008, 04:38 AM   #6
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It's dejavu all over again.

Jimmy C made his right hand man Warren S walk the plank right as the perfect storm hit BS. Dick Fuld will do all that he can to save skin but it's an exercise in futility. I truly feel sorry for the 28k employees at Lehman, what they are going thru is something I wouldn't wish upon anyone.
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Old 06-13-2008, 07:02 AM   #7
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There are going to be a number of these big guys folding.
Just stay tuned.
If you approach it like, oh, say sports, it gets more interesting. Maybe even place some bets if you're a wagering sort of citizen.

Or maybe you can see these coming collapses as a series of modern-themed medieval morality plays in the offing. Some of the players will appears as Sloth, others Greed.
Lust is a personal favorite.

Do not be a "gloomy gus". Enjoy!!!
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Old 06-13-2008, 08:37 PM   #8
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Barbarus, this isn't just sport for those that are in the thick of things. It's a blood sport and there are real casualties everywhere.

The only morality play that I can think of is Medea in terms of brutality and horror.

I've seen people's life savings go Poof! and grown men and women cry....and we're just getting started, as you rightly surmised.

Hope you stay dry out there during this flood season.
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