Has anyone heard of this?
If they are then why can't (example) If I own a loan underwritten by Lehman Brothers buy the loan for 25 cents on the dollar and then sell it to a bank for 25 or 30 cents on the dollar?
Instead of Morgan Stanley buying my loan from Lehman Bros.
Robert Reich wrote an excellent piece on Sunday.
What Wall Street Should Be Required to Do, to Get A Blank Check From Taxpayers
The frame has been set, the dye cast. Treasury Secretary Hank Paulson, presumably representing the Bush administration but indirectly representing Wall Street, and Fed Chief Ben Bernanke, want a blank check from Congress for $700 billion or possibly a trillion dollars or more to take bad debt off Wall Street’s balance sheets. Never before in the history of American capitalism has so much been asked of so many for (at least in the first instance) so few.
Read more here:
Robert Reich blog
Full Version: Lehman Brothers sell loans for 22 cents on the dollar
Regan would be proud, his garden is now ripe and ready.
QUOTE (RandiLover @ Sep 22 2008, 01:12 PM) 
Regan would be proud, his garden is now ripe and ready.
Randi will never go on TV. She has been offered but she wants to continue to call republicans liars which they are but if you get on TV you can't call them liars and Randi is not going to water down her opinion to get a TV talk show.
What? Give the mortgages to the home owners? No way. Unless you happen to have your private lobbyist in DC and you are writting ten thousand dollar checks to your Congress persons.
And what do expect from guys like Treasury Secretary Henry Paulson.
"Paulson made more $38 million in 2005, according to Goldman's proxy statement, with most of that, $30.1 million, coming from restricted stock awards, and stock options valued at $7.3 million. He got $29.2 million in stock grants in 2004 and $20.8 million in 2003, on top of his base pay of $600,000 each of the last three years.
His Goldman stock holdings at the end of 2005 were worth just under $700 million at current prices, not including the value of his stock options. But those prices were somewhat lower Tuesday, as Goldman shares lost about 1.5 percent on news it is losing its CEO.
The pay for the post of Treasury secretary is currently $175,700 a year, or less than what Paulson earned in two days last year, based on his total compensation."
http://money.cnn.com/2006/05/30/news/econo...ement/index.htm
You think this guy really relates to poor people, poor meaning anybody who makes less than a couple million a year?
And what do expect from guys like Treasury Secretary Henry Paulson.
"Paulson made more $38 million in 2005, according to Goldman's proxy statement, with most of that, $30.1 million, coming from restricted stock awards, and stock options valued at $7.3 million. He got $29.2 million in stock grants in 2004 and $20.8 million in 2003, on top of his base pay of $600,000 each of the last three years.
His Goldman stock holdings at the end of 2005 were worth just under $700 million at current prices, not including the value of his stock options. But those prices were somewhat lower Tuesday, as Goldman shares lost about 1.5 percent on news it is losing its CEO.
The pay for the post of Treasury secretary is currently $175,700 a year, or less than what Paulson earned in two days last year, based on his total compensation."
http://money.cnn.com/2006/05/30/news/econo...ement/index.htm
You think this guy really relates to poor people, poor meaning anybody who makes less than a couple million a year?
Fury at $2.5bn Lehman bonus
Nomura and Barclays table bids today for US giant’s London operation as bank’s administrator likens collapse to Enron
John Waples and Danny Fortson
TimesOnline
September 21, 2008
STAFF at Lehman’s New York office who helped to cause the world’s biggest corporate bankruptcy are to share in a $2.5 billion bonanza.
The bonus, which has been described by London staff as a “scandal” has been pledged by Barclays Capital, the British-based bank that last week acquired Lehman’s American operation and took on 10,000 staff.
LINK
Nomura and Barclays table bids today for US giant’s London operation as bank’s administrator likens collapse to Enron
John Waples and Danny Fortson
TimesOnline
September 21, 2008
STAFF at Lehman’s New York office who helped to cause the world’s biggest corporate bankruptcy are to share in a $2.5 billion bonanza.
The bonus, which has been described by London staff as a “scandal” has been pledged by Barclays Capital, the British-based bank that last week acquired Lehman’s American operation and took on 10,000 staff.
LINK
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