Lehman Bros

[sluffy]

If anyone has any questions about HBOS/Lloyds TSB and/or the current market and their savings etc. please PM me and I will with the help of the mods set up a sticky thread with answers to them all, including why WFE is still wrong And DLH has interpreted what's in the press correctly but it's not the real story ........

As I understand it the greatest 'free' economy in the world - the USA started the whole financial problem that we are currently in due to lending money somewhat indiscriminately to people with poor credit ratings so that they could purchase their own homes. After lending this capital for these people to buy their own piece of America the banks sold on these 'debts' to other bigger banks who in return provided more funds for the original banks to fund further people with even worse credit records to buy their own houses. These 'debts' were again 'packaged' up and sold on for even more money to the other banks who again provided more capital for the banks to lend money to people with yet even worse credit ratings to buy their own house, etc, etc.

Now as I understand it the head of the Banking system in America is in affect attempting to 'nationalise' this bad debt to free up the banking system.

I think you've not quite yet got to the bit where the Banks "insured" their debts using derivatives through AIG to the tune of around $450 Bn. Global GDP is sat at about $54 Trillion, AIG's balance sheet made up about 2% of that...

We also need to throw Freddie Mac and Fannie Mae into the general discussion, as these two organisations guarantee approx $6 Trillion dollars worth of the US Mortgage market.

All three are "effectively" now owned by the US tax payer....

The issue around Lehmans was small beer compared to these guys which is why there was an apparent shrug from the Fed that it went tits up. As was the issue around HBOS/Lloyds TSB

Thanks Worthy.

I did know that (not the exact figures though) but I'd thought I'd already got enough in my original post to 'unmask' the reason behind Commies user name!

Clearly now he and his colleagues (or should that be comrades!) have been working hard to use the capitalists free worlds economic banking system to ultimately force the US government to nationalise its bad debts (and thus a goodly portion of its country’s land) which in turn means that the state now owns the land which is one of the main pillars of communism!

Commie's user name as been there for some time for us all to see – but the explanation for it as only just become apparent to me!

[Worthy4England]

If anyone has any questions about HBOS/Lloyds TSB and/or the current market and their savings etc. please PM me and I will with the help of the mods set up a sticky thread with answers to them all, including why WFE is still wrong And DLH has interpreted what's in the press correctly but it's not the real story ........

As I understand it the greatest 'free' economy in the world - the USA started the whole financial problem that we are currently in due to lending money somewhat indiscriminately to people with poor credit ratings so that they could purchase their own homes. After lending this capital for these people to buy their own piece of America the banks sold on these 'debts' to other bigger banks who in return provided more funds for the original banks to fund further people with even worse credit records to buy their own houses. These 'debts' were again 'packaged' up and sold on for even more money to the other banks who again provided more capital for the banks to lend money to people with yet even worse credit ratings to buy their own house, etc, etc.

Now as I understand it the head of the Banking system in America is in affect attempting to 'nationalise' this bad debt to free up the banking system.

I think you've not quite yet got to the bit where the Banks "insured" their debts using derivatives through AIG to the tune of around $450 Bn. Global GDP is sat at about $54 Trillion, AIG's balance sheet made up about 2% of that...

We also need to throw Freddie Mac and Fannie Mae into the general discussion, as these two organisations guarantee approx $6 Trillion dollars worth of the US Mortgage market.

All three are "effectively" now owned by the US tax payer....

The issue around Lehmans was small beer compared to these guys which is why there was an apparent shrug from the Fed that it went tits up. As was the issue around HBOS/Lloyds TSB

Thanks Worthy.

I did know that (not the exact figures though) but I'd thought I'd already got enough in my original post to 'unmask' the reason behind Commies user name!

Clearly now he and his colleagues (or should that be comrades!) have been working hard to use the capitalists free worlds economic banking system to ultimately force the US government to nationalise its bad debts (and thus a goodly portion of its country’s land) which in turn means that the state now owns the land which is one of the main pillars of communism!

Commie's user name as been there for some time for us all to see – but the explanation for it as only just become apparent to me!

We might struggle in the UK with that one. Think the Crown still legally own it all....

[communistworkethic]

christ on a bike!! if I didn't have a headache from "off the record" briefings all week Sluffy's "question" certainly gave me one!

[Worthy4England]

christ on a bike!! if I didn't have a headache from "off the record" briefings all week Sluffy's "question" certainly gave me one!

"Off the record" that's hardly an unequivocal "no" to some of the questions he posed around communism taking over capitalism from the inside

[communistworkethic]

christ on a bike!! if I didn't have a headache from "off the record" briefings all week Sluffy's "question" certainly gave me one!

"Off the record" that's hardly an unequivocal "no" to some of the questions he posed around communism taking over capitalism from the inside

well, Karl Marx will be pissing his shroud laughing at the state of affairs we're in!

[Verbal]

Thought this was pretty funny...

http://www.scribd.com/doc/2190705/CDO-P ... ime-Primer

[Lord Kangana]

[communistworkethic]

it's pretty accurate assessment!

[Dave Sutton's barnet]

Happened across this thread while searching for something else, and just thought I'd highlight this. It seems ever more apt.

As long as they all got their bonuses before the sh*t hits the fan I'll be able to sleep soundly at night.

I'm sure theres some phrase to do with reaping what you sow, but no doubt that was considered surplus to requirement, along with the red-tape that some people call (rather fancifully) "financial regulations". Still, at least when the world slips into recession we can be comforted by the thought they've had some fun along the way.

[as]

If anyone is interested, there's a quality documentary about this subject called The Inside Job