Saturday, September 13, 2008
Lehman shareholders are toast
No one wants Lehman's $85 billion of crap on their balance sheet. Secretary Paulson said the Treasury wouldn't step in, so he now is attempting to strong arm banks to contribute capital to collateralize those "assets" so they don't have to be sold.
How ironic is that?
The Secretary of the Treasury leverage on the banks is this: If you don't contribute collateral, Lehman's assets will have to be sold, and then you'll have have to mark down those same assets on your balance sheet.
They should call his bluff.
Wall Street, however will learn their lesson. Every capital raise now brings the common shareholder closer to burnt toast!
Posted by Palmoni at 7:45 PM
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The name's Dennis, though most people call me 'Freaky'. :P I'm in my "teens" and kinda lost in the world at the moment...however, I've found the hippie "culture" and discovered that it fits me very well...I'm not trying to fit into it, it just kind of fitted onto me.
I have lots of questions, which hopefully some of the older and wiser people on this board will be able to help answer.
Here's to hoping this board will be able to help me discover more of myself and fuel my beliefs.
Keep smiling, Dennis from [url=http://www.myonlinepayday.com]My Online Payday[/url] website!
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