“Dear readers, let us begin this week’s missive by acknowledging its partial incompleteness. For understandable considerations, there are some capital market situations that we cannot discuss. We thank all our readers for their support and look forward to continuing to provide you with timely analysis.”
This is how Lehman Brothers’ strategists began their last ever weekly […]
Posted on September 18th, 2008 by
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The stock market rallied early Thursday as traders embraced a massive liquidity injection by global central banks, new restrictions on naked short selling and hopes the recent thrashing had created enough fear to generate a good opportunity for contrarian
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How quickly can AIG burn through $20 billion dollars in complex loans? It may not matter much, as the market pummels the once-mighty insurer. With ratings agencies downgrading its debt and the stock cut in half again overnight, the New York State lifeline is likely to be swallowed in the markets tsunami. At less than […]
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As of this writing, the fate of Morgan Stanley remains uncertain although continued independence seems unlikely. The investment bank is having merger talks with a variety of players, including Wachovia and HSBC, while
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Staffers at the once No. 4 U.S. investment bank headed into its midtown Manhattan headquarters on Monday morning, armed with bags and suitcases of all sizes.
Their emotions ran the gamut.
One man caught his co-worker’s eye and threw his hands up in the air in dismay before hurrying into Lehman’s global headquarters, a few minutes’ walk from Times Square.
“It is […]
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From ClusterStock.com, Sept. 18, 2008:The world’s central banks pumped $180 billion of liquidity into the world financial system last night. Will this mark the bottom in the stock market?In the short-term, possibly. …
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The timing could have been better for the luxury car show at the World Financial Center in New York, home to Merrill Lynch & Co.
The Motorexpo opened on Monday — the morning after Merrill employees were shocked to hear their company was being bought by Bank of America, marking the end of the storied name in American finance.
Nikki […]
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Wednesday demonstrated in stark terms the limits of government intervention to restore confidence amid a financial crisis that shows no signs of abating. The Fed’s decision to grant AIG an $85 billion loan grabbed headilnes, for obvious reasons. …
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