Braveheart
Member
Yup so you know what that means if the big boys are done this is going to crash. I am taking my losses and getting the hell out tomorrow of all stocks and the TSP.
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Show-me Account Talk
- Thread starter Show-me
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Yup so you know what that means if the big boys are done this is going to crash. I am taking my losses and getting the hell out tomorrow of all stocks and the TSP.
Show-me
Well-known member
What I like to know is how much of tax payer's money will be backstopping BAC for their rescue of MER.
What this tells me is that the Feds are really scared.
None! No more bail outs. The Fed can't backstop anymore after FRE and FNM.
No more cheap money to use.
Braveheart
Member
Yes I read that so those shorts/longs are done as well. Maybe a Hail Mary pass and LEH is bought at the final hour for a 6 pack of Bud
Show-me
Well-known member
Defiantly not a kook, but very ....................:nuts:
350zCommTech
Well-known member
Braveheart,
Looking at the currency markets, the BAC/MER stick save, lasted a whole 20 mins. Futures are back down to where they were prior to the news.
The Feds apparently forced MER to sell to BAC because they wanted to be off next weekend.:laugh:
If I own any BAC, I'd be selling tomorrow.
Geaux4it
Member
Speaking of Kooks.. Greenspan says strap it up, more to come.
Looks like AIG may be next..
Geaux
Geaux4it
Member
Braveheart
Member
I smell another rat. What this really is Lehman playing a power game with the Fed & other Banks thinking they will give in at the final hour. LEH knows the market will tank and trillions will be lost so they think they have leverage. That is what I see their stock is worthless as is their name so screw them.
Watch Barclays and BAC buy up all their assets at rock bottom price.
Watch Barclays and BAC buy up all their assets at rock bottom price.
Geaux4it
Member
If Lehman goes BK, on top of everything else, DOW could panic and drop 500.00 and close the doors. Then it's the business man special at the Yankee game.
Time to start putting my change in the sock again.
View attachment 4672
Geaux
Time to start putting my change in the sock again.
View attachment 4672
Geaux
Braveheart
Member
WM & AIG are next !!! This market may be 1932 real soon as in this week.
350zCommTech
Well-known member
With the BAC/MER deal done, I think we can expect LEH to announce a BK filing within the next 2.5 hours.
Braveheart
Member
UPDATE at 8:26 PM EDT: Several major stock markets in Asia are closed Monday, but where there’s trading there are losses. Australian stocks were under early pressure, with financials taking a pounding. The benchmark S&P/ASX 200 was down more than 1%; shares of investment bank Macquarie Group tumbled more than 9%.
UPDATE at 8:37 PM EDT: The Journal, citing bankers, reports that the Federal Reserve will expand its lending facilities, with the central bank expected to accept a wider range of collateral, including equities, for short-term loans. The moves are expected to be temporary.
UPDATE at 8:44 PM EDT: Bank of America has reached a deal to buy Merrill Lynch for $29 a share, sources tell the Journal. The boards of both companies have approved the deal.
UPDATE at 8:37 PM EDT: The Journal, citing bankers, reports that the Federal Reserve will expand its lending facilities, with the central bank expected to accept a wider range of collateral, including equities, for short-term loans. The moves are expected to be temporary.
UPDATE at 8:44 PM EDT: Bank of America has reached a deal to buy Merrill Lynch for $29 a share, sources tell the Journal. The boards of both companies have approved the deal.
Show-me
Well-known member
Rumor is that the have counsel and will do it at midnight.
Braveheart
Member
I'm going to get our the Jack & Coke and watch Pitt/Clev this is disgusting !!!
350zCommTech
Well-known member
WTH!!!! Is that how BAC is buying MER????? That explains the huge premium at $29/share...
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