Every home will be revalued as aresult of this.

Good. This medicine is coming quicker than most thought.

I'm sorry, people, but your house is not a good investment. It's illiquid, and your home equity was fake. Hope you didn't borrow against it...

Fasten your seatbelts, the Dow will be plunging today. It's one of those days where trading could be stopped. Every home will be revalued as aresult of this. Luxury condos? Bring out the knives and forks.

drumroll ....

http://www.lehman.com/press/pdf_2008/091508_lbhi_chapter11_announce.pdf

I'm watching CNBC for breaking news of the Lehman bros situation and then an ad for the Penthouse executive clubs comes on. I hope the bitch who called me an ahole was one who got let go. and I'm being nice here.

what happened to let the free market reign

If we let free market reign, us fat Americans would be in so much debt that foreign countries would own 80% of our @sses. Those silly foreign countries and their regulations ... they should be more like us.

Lehman went unsold. Will file bankruptcy Monday morning barring a last minute miracle. How 'bout it, Bloomberg?

Jesus H. fucking Christ, my crappy bank, BofA just bought Merrill Lynch for $50 billion. Thank god it's just checking, but I'm depositing less of my paycheck anyway, just in case...

Oh fuck me, now A.I.G.'s in big trouble...

Enough bad salvage jobs. Let them sink without a trace. Republican idiots blather on and on about "free markets" and yet here we are watching them bail out their buddies time and time again. The Republican Party needs a red cross for its logo because they can't stop themselves delivering relief and comfort to any rich fuck in distress.

Yeah, the Democrats have to come in and clean up 8 years of Repbub economics.

Almost.

I think it's fairly clear now that the excess liquidity, as a result of Clinton and Greenspan wanting to pump cheap money into the economy post-Nasdaq, has caused the mortgage mess.

BofA is merging with Merrill. So only viable buyers are some private equities who will pick up the valuable asset management Neuberger subsidiary and let LEH drop to zero on Monday.

I believe the price will be going up due to the fact that it will become more popular due to its affordability and the supply/demand effect will come into being. Sorry Jac.

as long as the price of Pb stays constant.

"Are you competent enough to run an investment bank or a large corporation?"

Apparently there are lot that aren't competent, but they get paid a hell of a lot more than the poor sucker that gives them their money.

The umbrella business should be booming in the next few days and weeks.

Silly people, don't you know that the drawbacks of the free market only count when applied to poor and middle-class people?! Businesses and the wealthiest Americans should only benefit from the free market! It's the American Way.

what happened to let the free market reign?

what happened to let the market decide what to do?

Shouldn't the market let the lesser banks fail and successful banks succeed?

Yeah, the Democrats have to come in and clean up 8 years of Repbub economics. Again.

What a mess. Unconscionable, cavalier robbery. The self-adjusting unregulated free market... what a joke. No oversight. No vision of commonwealth. The sovereignty of big time thieves. Enough already.

Some foreign bank will get themselves a bargain.

fuck them.

safety net + regulation or pure free market and risk

You can't have it both ways.

Their executives should be in irons and their assets frozen.

No tax payer bailout here. The Fed and Treasury are adamant against using tax payer money for this.

Now whether they are playing chicken or not remains to be seen but it sure doesn't sound like it. Besides, they're saving it for when Merrill fails in a few weeks!