the details are not as important as the theme: so much flimflam went on for so long. does anyone really believe this huge company did not know it had guaranteed a $400+ billion for one of its subsidiaries ? what's the worse news: it did or it didn't ?
http://www.bloomberg...6...&refer=home
many, many months of ugly surprises ahead folks: "the bigger the boom, the bigger the bust." and it was the biggest boom in history.
lehman sues jap company for $400+ million loan
Started by
humble1
, Mar 30 2008 04:06 AM
3 replies to this topic
#2
rigelpug
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Posted 30 March 2008 - 05:28 AM
the details are not as important as the theme: so much flimflam went on for so long. does anyone really believe this huge company did not know it had guaranteed a $400+ billion for one of its subsidiaries ? what's the worse news: it did or it didn't ?
http://www.bloomberg...6...&refer=home
many, many months of ugly surprises ahead folks: "the bigger the boom, the bigger the bust." and it was the biggest boom in history.
Hey, times were good, people didn't think twice about this type of thing. Now that times are bad, they are examining their lousy transactions and trying to get out of them. Who knows, maybe this announcement will be good for a pop.
#3
dasein
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Posted 30 March 2008 - 08:27 AM
according to the article, there is fraud - they say they did not guarantee the loan, and the documents of guarantee are fraudulent.
i suppose this is like a rogue trader thing.
best,
klh
klh
#4
milbank
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Posted 30 March 2008 - 01:04 PM
Even if Lehman has a case, by the time that one is settled Lehman will be as relevent as Drexel Burnham Lambert is now.
Edited by milbank, 30 March 2008 - 01:05 PM.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
