Just saw it on the BBC News. Shares down 40% in the last hour or two after the Korea Development Bank had a look at the books and told them to get stuffed.
Cool!
Nemesis casts her cold eye on the Great Leap Backwards
46 minutes ago
Tuesday, 9 September 2008
Lehman Brothers is goin' down!
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4 comments:
It is like standing beside a train wreck. I can't watch.
How long before we see the Fed bailing LEH out? LEH has some cash, so I reckon they can last until Friday. Then we will get the announcement.
Alice
A young friend of mine got her bonus a few weeks ago and left.
The giants are toppling.
Look for the new giants rising from the ashes.
No doubt the lefties will be laughing and singing The Red Flag, thinking it is a sign of malaise in the wicked capitalist system.
I see these collapses as the inevitable consequence of bad management and a sign of how good a system capitalism is. Engage in too much risky business and you are in danger of losing your shirt. No government bail-outs, no sympathy from your creditors, you took the decision and you stand or fall by it. Get it right = nice big house in Kensington, get it wrong = lodging in the room above the chippy.
A fine example for government to follow.
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