Tuesday, September 16, 2008

Lehman joins the Dead Financial Dinosaurs Club

Lehman joins the Dead Financial Dinosaurs Club: Lehman Brothers (LEH) has gone the way of the dinosaurs, joining Bear Stears and Freddie and Fannie in the financial graveyard of Catastrophically Lost Causes. Is it even worth noting that this is the single LARGEST bankruptcy in the history of the USA? 690 something billion dollars, according to CNBC, yeah, six times more than World Com, the only other bankruptcy that even comes close to Lehman in terms of dollar impact. And, whew, dig this analyst Nouriel Roubini, economics professor at NYU's Stern School, he is ALL OVER THE NEWS, and he is a super harsh BEAR, bashing EVERY FINANCIAL OUTFIT known to man, he says things are just starting to get BAD, and its going to get worse, he says, nonchalantly, that even Goldman Sacks (GS) may fall. And now we have AIG (AIG) seeking cash, stock crashing, and who is going to give em cash? Looks like the gov will give them a huge 85 Billion Dollar Loan....now that's a jumbo sized loan!

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