Looks like Lehman's not going to make it

[mudesi]

Another one bites the dust....

Who knew that lending money to people who couldn't afford to repay it wasn't a very good idea? :eyes:

Of course, the market will fix everything. No need for Big Bad Scary Government to interfere with some kind of regulation of unmitigated greed.

Conservatism at its finest.

Wake up America. Reagan was funny and charming and wrong.

[billyoc]

1. Well, they called all the employees in on a Sunday night to empty out their desks,

so, yeah, looks like they're not going to make it. :hi:

[Renew Deal]

2. The government has fucked this up royally

Yes, the regulation should have been there, but the bailouts should not. The bailouts are extreme corporate welfare and just bad policy.

[muntrv]

3. But...but doncha know? It's the libruhls fault that the economy is in the shitter!

:sarcasm:

[DCBob]

4. It's over. They will file for bankruptcy tonight.

NEW YORK -- Lehman Brothers was preparing a bankruptcy filing tonight that could make it the largest financial firm to fail in the global credit crisis, after federal officials refused to help other companies buy the investment bank by putting up taxpayer money as a guarantee. A series of marathon negotiations over the weekend had failed to produce a buyout of Lehman Brothers, and sources familiar with the talks said the firm could file for bankruptcy before markets open Monday morning.

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/14/AR2008091400355.html?hpid=topnews
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AIG and WaMu may be next. Markets will be in total turmoil in the morning. The feds will probably restrict trading.

[Odin2005]

5. Welcome to The Great Depression 2.0

As that Chinese curse goes, "May you live in interesting times"...