Reply With QuoteNo it's not.
True. But it's a fair guess that most of them used a company pension program.You have no idea how they're set up for retirement.
No it's not.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
Just like you to focus on the traders and ignore the janitors, sectritaries and most of the rest of the staff who didn't make six figure salaries. A huge number of them also took up the employee ownership plan and lost it all because a few guys at the top wanted to bet the house on risky investments. After all if the CEO wanted that $200 million bonus then he needed to boost this year's profits and screw what happens afterwards.Originally posted by DanS
Don't put words in my mouth. Many of the Bear Stearns folks got bonuses worth tens or hundreds of thousands of dollars a year. I'm supposed to shed a tear for them?
F that. I've got nothing against them, and am not going to kick them when they're down, but to describe them as "the little guy" is just absurd.
"Our scientific power has out run out spiritual power. We have guided missiles and misguided men." - Martin Luther King Jr.
"A cynical, mercenary, demagogic press will produce in time a people as base as itself." - Joseph Pulitzer
Note: At least at Lehman brothers, the vast majority of the people being laid off aren't traders. Anyone who can still bring in revenue are sticking around, it's support staff that are getting the axe (operations, sales support, etc).
"The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
Ben Kenobi: "That means I'm doing something right. "
The dow closed up slightly for Monday?
Wouldn't we have expected at significant loss for today at least?
It looks like JPM doesn't want very many Bear Stearns people. 90% or so are estimated to be getting sacked. In a recession and a financial crisis; just not a good time to be looking for a job.
"Our scientific power has out run out spiritual power. We have guided missiles and misguided men." - Martin Luther King Jr.
"A cynical, mercenary, demagogic press will produce in time a people as base as itself." - Joseph Pulitzer
Jim Cramer just loved Bear Stearns last Saturday night. Proof that the MSM hires just loud dumbasses to put on TV?
"Our scientific power has out run out spiritual power. We have guided missiles and misguided men." - Martin Luther King Jr.
"A cynical, mercenary, demagogic press will produce in time a people as base as itself." - Joseph Pulitzer
Stick with Cramer
The suprise move by the Fed made a difference probably.Originally posted by Geronimo
The dow closed up slightly for Monday?
Wouldn't we have expected at significant loss for today at least?
We must be concerned not merely about who murdered them, but about the system, the way of life, the philosophy which produced these murderers. - Martin Luther King Jr. Eulogy for the Martyred Children (1963)
Short Cramer
"tout comprendre, c'est tout pardonner"
DanS... As one who works for an investment bank, I can attest that IB bonuses, particularly to execs are, in large part paid out in restricted stock, and the retirement plans for the common folk are paid out in company stock.
Anyway, today made me feel a little happy about working for JPM. I feel bad for the guys who lost their retirements tho...
"Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."
It's not Tuesday... yet...Originally posted by Geronimo
The dow closed up slightly for Monday?
Wouldn't we have expected at significant loss for today at least?
(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.
but I thought the biggest bad news bombshells had all gone public over the weekend. It seems..odd that either there were no days of stock market losses resulting from this or that the losses will come after a day in which the ugly truth was already out but in which the market ended up slightly.Originally posted by notyoueither
It's not Tuesday... yet...
Must have been the PPT.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.
Lehman seems to have recovered...
"The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
Ben Kenobi: "That means I'm doing something right. "
The S&P 500 -- a broader market gauge than the Dow -- went down a percent or so. Means to me that everybody piled into the biggest of the big names.Originally posted by Geronimo
The dow closed up slightly for Monday?
Wouldn't we have expected at significant loss for today at least?
This morning's market moves are completely FUBAR, on the other hand.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
I should have bought Lehman yesterday. I had a hunch this was going to happen.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.
Originally posted by Colon™
I should have bought Lehman yesterday. I had a hunch this was going to happen.
I was going to suggest it on Poly yesterday. Of course I don't have the money to invest.
We must be concerned not merely about who murdered them, but about the system, the way of life, the philosophy which produced these murderers. - Martin Luther King Jr. Eulogy for the Martyred Children (1963)
Theoretically someone could have gotten a return of 100% in less than 24 hours. That beats most offers I receive in my mailbox.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.
They announced earnings today and seem to have done well there. They were heavily shorted and a lot of people are covering. The Fed is expected to make more cuts, and there will probably be a decent general rally if they don't disappoint. LEH could very well still be a 0, nothing much has changed in the last few days. Even BSC got a 15pt pop right before they kicked the bucket.
Much safer investments out there. When a stock is losing half it's value in a day, and doubling the next, that's your cue to leave it the hell alone. Unless you're into gambling, which is basically what being in LEH (long or short) is right now.
"tout comprendre, c'est tout pardonner"
Don't be such a bore.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.
Class action suit filed today for allged stock fraud.Originally posted by Aeson
So... $40 to $2 in the 3 days after the CEO had gone on TV and said everything was fine. If I was a shareholder...
Is anyone else really suspecious that on Friday, BS was selling at $30, and over the weekend, a deal was cut for a $2/share takeover, and the SEC approved it during the same weekend?
I suspect a lot of money flowed under some table somewhere.And I further suspect, Chase will make hundreds of millions out of its takeover of this "worthless" company.
Isn't just the building it is housed in worth more then 2$ per share price?
JM
Jon Miller-
I AM.CANADIAN
GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.
Way more.
"The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
Ben Kenobi: "That means I'm doing something right. "
Apparently so. This may be a move to give JPM some additional assets.
Also the put options trading stuff was fishy up to this. doubtful the SEC will do anything about it though.
Bear didn't just have assets though, they also had debts. The Fed guaranteed $30 billion of Bears' less liquid assets (er... stuff no one is currently willing to buy) for JPM, which probably gives Bear's shareholders some valid complaints...
Why should the Fed guarantee the assets for JPM, but not have done the same for Bear in the first place?
There's a few possible answers, but I think the most likely one is Bear was insolvent with or without it, but JPM could take on the assets and debts and make it work (with a little help), and the Fed was worried of a domino style collapse if they just let Bear go.
"tout comprendre, c'est tout pardonner"
They may not have owned the building, either (certainly many companies rent the space their offices are in, not sure if banks are more or less likely to do that). Either way, debts >> assets I'm sure; and there are definitely fishiness in this matter I'd think, whether on JPMC's part or on BS's exec's part.
<Reverend> IRC is just multiplayer notepad.
I like your SNOOPY POSTER! - While you Wait quote.
They owned the building, and it is valued at $1.2B.
Have you guys actually read this document -- it's like 48 pages for the JPM-Bear Stearns stuff, there's no way this was done this weekend alone. Fishy fishy fishy.
"The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
Ben Kenobi: "That means I'm doing something right. "
2$/share doesn't appear fishy if you consider nobody was willing to pay any money for Northern Rock at all.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.
They should have done what they thought would maintain the most investor conficence. Maybe they figured that people believe that consolidation will strengthen the industry.Originally posted by Aeson
Why should the Fed guarantee the assets for JPM, but not have done the same for Bear in the first place?
We must be concerned not merely about who murdered them, but about the system, the way of life, the philosophy which produced these murderers. - Martin Luther King Jr. Eulogy for the Martyred Children (1963)
Posting Permissions
Bookmarks