So what the fuck is going on at Lehman Brothers this weekend?

[originalpckelly]

Their earnings report must be extremely shitty for them to call the bigwigs in on a weekend.

http://www.cnbc.com/id/25161379

"Senior executives at Lehman Brothers, the embattled Wall Street securities firm, have been summoned this weekend for a series of meetings as the firm prepares to release second-quarter earnings on Monday and speculation swirls that the firm may be sold to a larger bank, CNBC has learned.

Shares of Lehman have been hammered in recent weeks amid growing investor concern over the firm's balance sheet.

On Monday, Lehman preannounced a $2.8 billion loss and that it would raise $6 billion in new capital to bolster its balance sheet, which is bleeding losses because of soured loans on its books.

***SNIP***

Lehman Chief Executive Dick Fuld has been working overtime to restore investor confidence in the firm a after some investors believed they were misled about the size of the firm's losses and need for new capital. Because of the eroding investors support, and damage stemming from the firm's financial troubles, speculation is growing that the firm might have to be sold. CNBC reported that private equity firm Blackstone is interested in taking a stake in Lehman. Other firms have expressed interest in buying Lehman as well. Only after the reports of a possible sale, did shares of Lehman reverse a week-long slide."

I wonder if they're hiding something more than just being bought out. Are we seeing another Bear Stearns deal being brokered at the 11th hour? <--Rampant speculation, but hey, these people are mofo crooks, I don't put anything past 'em.

[Yael]

1. Whoa -- and they just fired a bunch of C-level people last week, too...

[whistle]

2. They declared a $2.8 billion lose for last quarter when in reality their loses top $28.0 billion

[BeatleBoot]

3. Just a decimal slide

That's all.

:rofl:

[PBS Poll-435]

4. Just a simple mistake that ANYONE could make.

Right?


:rofl::rofl: