2pints-mate 0 Posted September 15, 2008 Share Posted September 15, 2008 Any of the brothers and sisters here working for those Lehman Brothers? Got some friends in London today having a rather rough day. Who might be next.... Link to post Share on other sites
big-will 7 Posted September 16, 2008 Share Posted September 16, 2008 Good friend of mine works there in Tokyo, I believe he is looking for a job this morning. Link to post Share on other sites
grungy-gonads 54 Posted September 16, 2008 Share Posted September 16, 2008 Haven't spoken but I know someone at LB in Roppongi Hills too. Link to post Share on other sites
BagOfCrisps 24 Posted September 16, 2008 Share Posted September 16, 2008 Just been out last night (?) for drinks with a few of those people who were carrying cardboard boxes out of the building on the news. Pretty shocked that this has happened to them but confident of their bouncebackability. Link to post Share on other sites
Rag-Doll 0 Posted September 16, 2008 Share Posted September 16, 2008 Not good at all, but it has been on the cards for a while not really a big surprise. When Bear went down we all thought that was a bad situation, but at least we were rescued; no chance here though. Link to post Share on other sites
soubriquet 0 Posted September 17, 2008 Share Posted September 17, 2008 My sympathies are severely restricted by the knowledge that these financial parasites grew fat and rich on the labours of others. The bonuses flowed during the good years when sitting on the arse free-enterprise predators got rich. Now it`s Chapter 11 bankruptcy. Hard times and the fat git greedy bstards have their hands out for taxpayers money :finger: Link to post Share on other sites
journey_man 0 Posted September 17, 2008 Share Posted September 17, 2008 A few of the fat cats might get their fur singed, but it will be the 1000's of worker bees that will get toasted. It was the same in 91 and also in 87. Both these forseeable financial disasters are were the result of the greed of a few who knew that they were fireproof, so were happy to take the massive risks that also came with massive rewards. Link to post Share on other sites
soubriquet 0 Posted September 17, 2008 Share Posted September 17, 2008 Spud's bonus was greater than twice my annual salary as a senior scientist at the CSIRO. Tough tittie. Link to post Share on other sites
journey_man 0 Posted September 17, 2008 Share Posted September 17, 2008 Are you telling me that the majority got massive bonuses? Not just the lucky few? Link to post Share on other sites
soubriquet 0 Posted September 17, 2008 Share Posted September 17, 2008 I'm not telling you anything. I don't know. Spud was very happy with his bonus. It was better than twice my salary and would have paid off my mortgage. My beef is with those who believe in "free market" economics when the money is rolling in, then want taxpayer protection when times are hard. How do you spell "hypocrite"? Link to post Share on other sites
69 5 Posted September 17, 2008 Share Posted September 17, 2008 You spelt it correctly soubs. Link to post Share on other sites
Fattwins 0 Posted September 17, 2008 Share Posted September 17, 2008 Spud doesn't like being talked about when it comes to work he would tell you to shut up! Regardless of why this bank went under, it effects more than just a few greedy people. Retirement funds wiped out. Employes trust into a tuff job market, Credit drying up in North America! Oh yes oh educated one, it was only the greedy people! Link to post Share on other sites
NoFakie 45 Posted September 17, 2008 Share Posted September 17, 2008 Its sad when any individual loses their livilihood. The financial sector though is guilty of many things, and its hard to drum up any sympathy for these companies as a whole. If it means less lobbying and distortion of "democracy", then good riddance to them. As soubs says, ordinary people will pay for this. Directly through public money and/or indirectly through inflation and erosion of the currency. Link to post Share on other sites
soubriquet 0 Posted September 17, 2008 Share Posted September 17, 2008 Spud should not have have not boasted publicly on this forum about how much money he "earned". He chose to do this. That was his choice. My pension fund has gone down too. I'm going to have to work until I die, no rest there. Hopefully I die soon. Link to post Share on other sites
muikabochi 208 Posted September 17, 2008 Share Posted September 17, 2008 Yes, correct spelling there soubs. Link to post Share on other sites
Rag-Doll 0 Posted September 17, 2008 Share Posted September 17, 2008 Why am I always the only guy defending the establishment? All this "no sympathy, they deserve it" BS is so misguided. No one was complaining when Joe Average was finally able to realize his dream of owning his own house. Perhaps he should not have been allowed to, but no one was complaining at the time. No one was complaining when the share market was going up and up and up with consequential benefits to pension funds and superannuation funds and private wealth generally. The governments certainly do well out of the increase tax revenue. The wealth generated over the past 10 years was enjoyed by everyone in one form or another. Yes, some enjoyed it more than others, but then they were also largely responsible for it. Remember that the whole system is connected in one way or another – wealth in the US means more imports from Chinese factories, owned by Japanese companies using resources from Australia etc. But what we get is, damn those bankers and their money grubbing ways! The serves them right attitude is exactly the same response we see when some rouge trader loses money - no one was too concerned when the cash was flowing in but oh the angst and heart ache and oh how the recriminations flow when the money starts flowing out. The problem here is that there has always been a lack of oversight and regulation of derivative products - expect this to change! But this problem has been around for a while and people have been saying for years how dangerous the situation was. Was it Soros who said that derivatives are financial weapons of mass destruction? I guess he was right. But the sun will come up tomorrow and in 10 years time 2008 will be a distant memory and there will be a whole new generation of traders with fancy ways of making money and everyone will start doing a little better and have a little more cash and who will complain? until the next crash, when people will again complain about how the greedy bankers made us poor. Link to post Share on other sites
SKI 15 Posted September 17, 2008 Share Posted September 17, 2008 I think this is more a case of people just not having much sympathy for individual high-flyers who think they are invincible, Rag-Doll. Of course the bigger picture brings in a whole lot more issues. Link to post Share on other sites
brit-gob 9 Posted September 17, 2008 Share Posted September 17, 2008 Quote: Why am I always the only guy defending the establishment? You part of it, perhaps? Link to post Share on other sites
soubriquet 0 Posted September 17, 2008 Share Posted September 17, 2008 Rag doll. I was part of the establishment once. I spent most of my life working to establish a home (mortgage) and pension (funds). She stripped me of 70%. Whatever happens, I'm going to be poor. If that makes her poor too, I'm happy. Link to post Share on other sites
thursday 1 Posted September 17, 2008 Share Posted September 17, 2008 Moving on, who's next?????? Citi being banged around.... Link to post Share on other sites
HelperElfMissy 42 Posted September 17, 2008 Share Posted September 17, 2008 Rag-Doll, I hear you. It is all too easy to be pointing fingers at the person who is driving a Porsche or owns luxury property on 3 continents - chances are that person worked long long hours and took great risks to get to that position. YES - I think it sux when someone makes themselves immune from the risks yet dangles the worker out there - but by and large the captain tends to go down with the sinking ship when the worst happens. Basic high school economics teaches us that there are cycles - for ups there are downs - bear and bull - winners and losers. The good times don't go on forever, and to bank on them going on for ever is foolhardy. The old saying "make hay while the sun shines" comes to mind ... but when the sun is hidden behind rain clouds you better drag that hay under shelter or it is going to be wasted. I feel strongly for the families who are effected in all walks of life. For the men and women that have lost thier jobs and income, for the kids who have to move house because of finacial stress in thier family, for the investors who have lost years of hard work, for the retiree's who now have to go back to work, and for the recipients of thier benevolence in soup kitchen across thier own country and in the stark realities of the third world where the charity dollar shall dry up. Link to post Share on other sites
Rag-Doll 0 Posted September 17, 2008 Share Posted September 17, 2008 Absolutely there will be a lot of pian - that is really unfortunate. Being the first, we at Bear were left in a far better position than many of our Lehamn brothers (and sisters). A lot of people losing houses they couldn't afford in the first place too. Thursday - who is next? Good question. Link to post Share on other sites
Fattwins 0 Posted September 17, 2008 Share Posted September 17, 2008 Spud would never have posted what he makes on the web. He wont even tell his friends that. If you are going to try to come up with crap then back it up or shut up. Know one complains about greed untill something like this happens. Why? because the more money they make the more it funnels down to the rest of us. There were alot of people who should not have gotten loans period. but,,, had the econmy gone the other way, then know one would be saying a thing anyways. Before this happened the industry was looking a good profits across the boards. Link to post Share on other sites
BagOfCrisps 24 Posted September 17, 2008 Share Posted September 17, 2008 This ignore feature is really cool. It eliminates the poison without any spillage. (Sometimes I just take off to check) I know some very fine decent people who worked there soubs. They weren't the egomaniacal fat pigs of the stereotype. I know some of that kind as well. Quite a few actually. And I dislike them intensely. While it is not nice anyone losing their job etc, some of these kind of people do not attract sympathy. Link to post Share on other sites
SnowJapan Admin SnowJapan 178 Posted September 17, 2008 SnowJapan Admin Share Posted September 17, 2008 OK 2 simultaneously posted posts have been deleted and this is quickly going down a non-welcome and nastier personal path. I do not have the time or inclination to waste any time dealing with that lot. Personal arguments and insults - just take them elsewhere. Anywhere is fine - just not on these Forums. They do not belong here and I recall saying that before. And please do not bother posting a continuation of this and/or comebacks on here (including personal/private comments about people either here or not), they will simply be deleted. And... it will really annoy me. If you are going to post again in this thread, make sure it is on topic please - which was, I believe, Lehman Brothers. Thanks. Link to post Share on other sites
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