Bear, Lehman, Merrill, Goldman Traded as Junk [NotSoBreaking] - MarketTicker Forums


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User Info	Bear, Lehman, Merrill, Goldman Traded as Junk in forum [NotSoBreaking]
Porkchop Posts: 143 Incept: 2007-07-15 Joliet, IL	http://bloomberg.com/apps/news?pid=20601.... The highest level of defaults in 10 years on subprime mortgages and a $33 billion pileup of unsold bonds and loans for funding acquisitions are driving investors away from debt of the New York-based securities firms. Concerns about credit quality may get worse because banks promised to provide $300 billion in debt for leveraged buyouts announced this year. 2007-07-31 01:32:12 Permalink
Ohanacmp Posts: 992 Incept: 2007-07-19 Hawaii	the big banks are royally ***ed. Serves them right for what they have done to our country. They are anti-american IMO. ---------- I wish it were possible to make a single amendment to our constitution. Taking from the federal government their power of borrowing. Thomas Jefferson 2007-07-31 01:49:18 Permalink*
Eleua Posts: 14033 Incept: 2007-07-05 N 47.72/ W 122.55	Yeah, the big banks are the epicenter of the problems, but I think the more accurate scapegoat is staring back in the mirror. It was STUPID AMERICANS that took on more debt than they could service. It was STUPID AMERICANS that believed "real estate always goes up." It was STUPID AMERICANS that consumed more than they produced (way more). It was STUPID AMERICANS that kept electing a spend-happy Congress and pandering presidents. It was STUPID AMERICANS that deified Alan Greenspan. It was STUPID AMERICANS that groped for yeild and bought every bit of financial effluvium that Wall Street floated down the sewer. It was STUPID AMERICANS that were too damned lazy to pay to do their own work, so now the Mexicans, Indians, and Chinese do it. It was STUPID AMERICANS that speculated in every asset they could barely understand. It was STUPID AMERICANS that failed to attain the education necessary to excel in an techno-industrial world. Yes, the big banks were part of it, but it is the collective stupidity of our fellow citizens that caused this mess. I think we are about to get a BIG lesson. Hopefully, that will reset the clock and we won't make these mistakes for the next 3 generations. ---------- http://clearcutbainbridge.blogspot.com/ "My object in life is to dethrone God and destroy capitalism." - Karl Marx "Destroy the family, you destroy the country." - Lenin "Education is a weapon whose effects depend on who holds it in his hands and at whom it is aimed." - Stalin 2007-07-31 04:28:10 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK	people still buying them!, got well and truly stuffed on my Bear and Goldman shorts yesterday ---------- “The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher 2007-07-31 04:37:01 Permalink