From a friend who works on Wall Street.

posted by The Vidiot @ 12:41 PM Permalink

In response to this article from the UK's Daily Mail that says the UK employees of Lehman are getting royally screwed (as opposed to the US employees who have a chance of a job with Barclay's buying up some of Lehman)

lovely. of course, no one in ny is getting paid unless it comes from barclays so it's not really a different situation. today is another mess; the same thing that happened to bear and lehman is now happening to goldman and morgan stanley. they had some idiots (sens shelby and bunning) on this morning saying the fed shouldn't have done anything to save aig. of course bunning cited some poll saying most americans were against the bailout. politicians are such ignorant whores. it's still a fiasco out there but the game would already have been over if aig had gone down. we'll see how the background plays out, but i was being told today that aig's last straw was lehman going down and them having all the liability on swaps they'd written on lehman debt.

rumour goldman is trying to go private. sounds like a good idea if they can do it. morgan's trying to sell just under 50% to the chinese. or they'll sell themselves to wachovia (which is a mess, itself). that's the perfect example of two drunks holding each other up. if those two go down, look out.

Labels: Economy, wall street