If Lehman Brothers Fails

[SavetheWest]

Shalom,

Thank Hashem my company is still growing and our stock is still strong, despite the turbulent market. May he continue to bless my family and the entire Jewish nation.

muman613

PS: I daven each day for the stability of our wonderful host nation of America, without whom my family would probrobly been exterminated in Ukraine.

Really well said!  America has been good to me and my family and I pray it continues. America has been a righteous nation and home to freedom and true religious freedom. Most Americans and the immigrants of the past are good people who respect other people and want prosperity and a good future.

That's why it is so importnat we don't have "change."

[SavetheWest]

Ok...I don't want to leave that message as the 666th, it's bad luck...

 

[muman613]

Shalom,

I also want you to know that my brother, who died working for Cantor Fitzgerald on 9/11, worked for several of these companies which are failing. I dont know the exact details, but I believe he worked for the following companies:

Dillon, Read & Co
Morgan Stanley
Lehman Brothers

He worked for several of the major Wall Street investment companies. I do not want to cast aspersions on the entire industry.

muman613

PS: Im coming up on post 999 which is 666 upside down...

[SavetheWest]

Shalom,

I also want you to know that my brother, who died working for Cantor Fitzgerald on 9/11, worked for several of these companies which are failing. I dont know the exact details, but I believe he worked for the following companies:

Dillon, Read & Co
Morgan Stanley
Lehman Brothers

He worked for several of the major Wall Street investment companies. I do not want to cast aspersions on the entire industry.

muman613

PS: Im coming up on post 999 which is 666 upside down...

There are definitly good people in all these industries.  I just met so many awful people who sold mortages, didn't care about the people they sold to and hurt a lot of people.  These people just got to move on to soemthing else which I find really upsetting. 

Was your brother older or younger than you?  He must have been a very smart guy to be working for one of those firms!

[muman613]

There are definitly good people in all these industries.  I just met so many awful people who sold mortages, didn't care about the people they sold to and hurt a lot of people.  These people just got to move on to soemthing else which I find really upsetting. 

Was your brother older or younger than you?  He must have been a very smart guy to be working for one of those firms!

Shalom,

My brother was 3 years younger than I. It is so sad that his Yartzeit is always the week before Rosh Hashana. I always have to do a lot of questioning and introspection during this time of year.

The anniversary of the 9/11 attacks is 23 Elul which is exactly 7 days before Rosh Hashana.

muman613

PS: I just noticed that the Parasha for the Shabbat of 9/11 is Nitzavim, which contains Hashems promise to the Jewish nation...

http://www.jtsa.edu/PreBuilt/ParashahArchives/jpstext/nitzavim.shtml
Dueteronomy 29:9

9 You stand this day, all of you, before the Lord your G-d — your tribal heads, your elders and your officials, all the men of Israel, 10 your children, your wives, even the stranger within your camp, from woodchopper to waterdrawer — 11 to enter into the covenant of the Lord your G-d, which the Lord your G-d is concluding with you this day, with its sanctions; 12 to the end that He may establish you this day as His people and be your G-d, as He promised you and as He swore to your fathers, Abraham, Isaac, and Jacob. 13 I make this covenant, with its sanctions, not with you alone, 14 but both with those who are standing here with us this day before the Lord our G-d and with those who are not with us here this day.

15 Well you know that we dwelt in the land of Egypt and that we passed through the midst of various other nations through which you passed; 16 and you have seen the detestable things and the fetishes of wood and stone, silver and gold, that they keep. 17 Perchance there is among you some man or woman, or some clan or tribe, whose heart is even now turning away from the Lord our G-d to go and worship the gods of those nations — perchance there is among you a stock sprouting poison weed and wormwood. 18 When such a one hears the words of these sanctions, he may fancy himself immune, thinking, "I shall be safe, though I follow my own willful heart" — to the utter ruin of moist and dry alike. 19 The Lord will never forgive him; rather will the Lord's anger and passion rage against that man, till every sanction recorded in this book comes down upon him, and the Lord blots out his name from under heaven.

[SavetheWest]

That has to be really difficult. 

I pray Bin Laden and Zawahiri can be caught/killed soon so you and others can have justice for your loved ones. 

I have a younger brother too and I can't imagine what that day was like for you.

[muman613]

That has to be really difficult. 

I pray Bin Laden and Zawahiri can be caught/killed soon so you and others can have justice for your loved ones. 

I have a younger brother too and I can't imagine what that day was like for you.

NorthWestJTF,

Thank you very much for your kind words. It is good to be able to share this with people who care.

muman613

[Zelhar]

I just want to note that the government 'bail outs' do not rescue the equity nor the management. For example Fannie and Freddie's stocks are now worthless and AIG's are also almost comletely wiped out. The managements will leave and their stock options are worthless and with no 'golden parachutes'.

[Ulli]

I just want to note that the government 'bail outs' do not rescue the equity nor the management. For example Fannie and Freddie's stocks are now worthless and AIG's are also almost comletely wiped out. The managements will leave and their stock options are worthless and with no 'golden parachutes'.

Zelhar, the problem the stocks are only for a short time worthless. If this crisis is over, the owners of this company will regain a lot of their former wealth.

[Zelhar]

Zelhar, the problem the stocks are only for a short time worthless. If this crisis is over, the owners of this company will regain a lot of their former wealth.

Not really, now 80% of AIG equity belongs to the government. So even if its stock recovers everything it had lost, whoever has hold it since before the implosion would still lose 80% of its pre-implosion value.

And Fannie and Freddie's stocks are completely worthless. I think the stocks will be 99% diluted in favor of the government.

The government is bailing out the financial institutions who are still floating, because if AIG, Fannie and Freddy defaulted on their trillion dollar debts, then many other financial institutions would collapse.

[Ulli]

Not really, now 80% of AIG equity belongs to the government. So even if its stock recovers everything it had lost, whoever has hold it since before the implosion would still lose 80% of its pre-implosion value.

And Fannie and Freddie's stocks are completely worthless. I think the stocks will be 99% diluted in favor of the government.

The government is bailing out the financial institutions who are still floating, because if AIG, Fannie and Freddy defaulted on their trillion dollar debts, then many other financial institutions would collapse.

I have read, that these two banks will stay in private hands. Do you have a source for this?

[Zelhar]

I have read, that these two banks will stay in private hands. Do you have a source for this?

Here are the official Terms:
http://www.treas.gov/press/releases/reports/pspa_factsheet_090708 hp1128.pdf

From what I see the government is issued with rights for 80% plus a billion 'preferred stocks', which are senior to any other capital, and which suppose to pay annual 10% cash dividend quarterly and 12% if they fail to pay at any quarter (lawyers can be humorous too  ).

[Ulli]

Here are the official Terms:
http://www.treas.gov/press/releases/reports/pspa_factsheet_090708 hp1128.pdf

From what I see the government is issued with rights for 80% plus a billion 'preferred stocks', which are senior to any other capital, and which suppose to pay annual 10% cash dividend quarterly and 12% if they fail to pay at any quarter (lawyers can be humorous too  ).

Thank you 

But the link is working only if you copy it in the browser address line.

[Masha]

These pigs have raped the American consumer for far too long. No average-sized house should cost, today, more than 50-100k.

I totally agree.