Crisis on Wall Street: Lehman to file for bankruptcy protection, Merrill Is Sold

[brendan]

http://online.wsj.com/article/SB122145492097035549.html

[AppleXY]

It's really sad how Lehman Brothers just collapsed, and is now declaring bankrupcy protection. The Stock (NYSE: LEH) has fallen 14% [today btw lol, just today lol]

Hope it doesn't happen to Citi (lol, I highly doubt that happen in 1000 years anyways, it's the largest fin. institution by assets).

[Collin Li]

It's going to lead to more bailouts, which will cause even greater problems:

http://en.wikipedia.org/wiki/Austrian_Business_Cycle_Theory

[AppleXY]

It's unbelivable to see such a powerful corporation fall to its knees. Imagine the CDS payouts OHSH--.

It's scary that a stock worth ~$90 is now only $3.51

Just shows how bad leverage is lol.

[costargh]

Stop using fucken acronyms. kthanks lol

[AppleXY]

Credit Default Swaps. Read the article

[costargh]

It doesnt mention credit default swaps (in those exact words). I doubt half the people who read that would know what u meant either lol... good communication is a key management skill... use it lol

[Noblesse]

I googled it and found out
http://en.wikipedia.org/wiki/Credit_default_swap

[AppleXY]

Meh.

Yes it does.

Credit Default Swaps are contracts between two parties that act like insurance against debt defaults..."

and oh btw, I like acronyms, there used alot in the finance industry and it's much easier to type lol.

[costargh]

Acronyms are only effective if the audience you are addressing is able to understand what they mean. Much like in English, you don't write in a formal and authoritative tone when writing a children's book for preschoolers. lol

[brendan]

just look how silly this article sounds in retrospect: http://online.wsj.com/public/article_print/SB118265090417846145.html

[excal]

If Citi falls, AppleXY might an hero =(

[brendan]

[brendan]

Don't Worry About Inflation
By FREDERIC S. MISHKIN
Mr. Mishkin is a professor of finance and economics at Columbia University's Graduate School of Business, a former member of the Board of Governors of the Federal Reserve System, and the author of "Monetary Policy Strategy" (MIT Press, 2007).
http://online.wsj.com/article/SB122169336538749851.html

For Wall Street, Greed Wasn’t Good Enough
By PAUL WILMOTT
Paul Wilmott is the founder of Wilmott, a journal of quantitative finance.
http://www.nytimes.com/2008/09/18/opinion/18wilmott.html?ref=opinion

America will need a $1 trillion bail-out
By Kenneth Rogoff
The writer is professor of economics at Harvard University and former chief economist of the International Monetary Fund
http://www.ft.com/cms/s/0/dd9aa390-84d6-11dd-b148-0000779fd18c.html

No More Creampuffs
By Kenneth Rogoff
The writer is professor of economics at Harvard University and former chief economist of the International Monetary Fund
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/15/AR2008091502532.html

A Failure Tax
By JONATHAN G S KOPPELL
Jonathan G S Koppell is the director of the Millstein Center for Corporate Governance and Performance at Yale.
http://www.nytimes.com/2008/09/17/opinion/17koppell.html?ref=opinion

Wall Street’s Next Big Problem
By MICHAEL LEWITT
Michael Lewitt is the president of a money management firm.
http://www.nytimes.com/2008/09/16/opinion/16lewitt.html?ref=opinion

The Credit Crunch
Will Go On
By DAVID ROCHE
Mr. Roche is president of Independent Strategy, a London-based consultancy (www.instrategy.com).
http://online.wsj.com/article/SB122169266450449841.html

Deal Profile: Barclays’ Big Bet
http://blogs.wsj.com/deals/2008/09/17/deal-profile-barclays-big-bet/

[bturville]

http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true&pli=1