Lehman Brothers
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Salary $350K, all commission-based, no bonus.
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1:33am on 09/27/2008
Yu-kai
Well...I guess this can be here for sentimental purposes...we shall always remember those three brothers that started a cotton trading business that later became the collapsed ibanking giant.
12:19pm on 09/18/2008
Jake
Well, right now they're more like Waaaaa! Moo....
11:55am on 09/18/2008
Steve
But does JP Morgan have the WooHoo?
11:39am on 09/18/2008
Yu-kai
Now there's talk on JP Morgan trying to buy Washington Mutual. First Bear Sterns, now WaMu. JP is on fire!
8:42pm on 09/17/2008
JJ
Wells Fargo is the bank that is least harmed by all this stuff. Good quality.
5:38pm on 09/17/2008
Stephanie
AIG has $1.1 trillion in assets. That's a lot! If they don't make it, we will have a lot more than our tax money to be concerned about.
4:07pm on 09/17/2008
Dawei
AIG just got bailed by our lovely government. Bye bye, our tax money.
12:57pm on 09/17/2008
Yu-kai
The government spent $85 Billion to save AIG. It will own 79.9% of the company. It says a liquidation will be inevitable, but this money will make it smoother.
11:18am on 09/17/2008
Stephanie
So is AIG next?
10:50am on 09/17/2008
Mike
Well, that would not have happened if they didn't run on 30x leverage. For every $1 they had, they had $30 of debt, pretty much like Bear Stearns
10:49am on 09/17/2008
Peter
They were hurt significantly by the subprime mortgage. They got in a lot of trouble and was talking about getting sold to this Korean state-owned bank. However, the Korean bank backed out, and people lost confidence. With withdrawed capital in the
10:07am on 09/17/2008
JJ
Hmmm...a lot of the pieces of Lehman is bought by Barclays. I have a friend working there. Should ask him what's up with that.
12:32am on 09/17/2008
steve
not sure... Anyone know if it was just bad investments or something else?
8:18pm on 09/16/2008
JJ
Wow, this is ridiculous. How did this happen?
2:28pm on 09/16/2008
Jun
Yea, my big bro works at Lehman and right now is a very tough time for him. I am confident that he will find another job easily, but thinking about it, there are SO many people w/o a job that the competition must be HUGE.
2:05pm on 09/16/2008
Mike
Wow! I actually have a friend who works at Lehman and lost his job.
2:04pm on 09/16/2008
Yu-kai
"The prospects of a private market solution to the deterioration of the American International Group appeared to be faltering on Tuesday, as talks involving the Federal Reserve and several banks turned to the possibility of using government money t
2:03pm on 09/16/2008
Yu-kai
Hmmm...It looks like WaMu and AIG are both in trouble too.
1:47pm on 09/16/2008
jay
i don't know... not one of the bigger ones. not really a surprise to me. I think it'll be interesting to see if any more go under, though.
1:44pm on 09/16/2008
Steve
Hard to believe Lehman failed... I wonder who's next?
