15 Sep 2008, 8:05 pm
15 Sep 2008, 8:24 pm
15 Sep 2008, 9:19 pm
I don’t know which union you were in or what you did but when
Fnord wrote:
what do you really mean by that? For example, how much is a human life worth? This is what happened near Los Angeles on Friday, September 12. A “contracted” (not union or regular employee) engineer of a passenger train failing to stop at a signal because his text messaging caused the crash which lead to the death of 26 people while injuring 85. Before you and everybody else get on my case with statements like "this could happen to anyone, union or otherwise", let me make a comparison. How would you feel about an apartment or house that you rent versus a home that you own outright being damaged or lost in some way? That is the difference between union and “contracted” employment. I wonder how the stock holder dividends are doing when fewer satisfied customers buy fewer of their products.
http://gizmodo.com/5050222/death-toll-r ... t-the-time
16 Sep 2008, 7:57 am
16 Sep 2008, 8:08 am
16 Sep 2008, 9:25 am
I sometimes wonder if it isn't just the greed of investment brokers realising that a slight devaluation of something or other means they wont get paid as many thousands of dollarpounds. Did anyone normal have a Lehman bank account, or a Lehman debit card? Or are the real victims just the everyday workers who got binned without warning, because telling them to prepare would have....
made Wall Street Panic?
Well said
16 Sep 2008, 10:24 am
16 Sep 2008, 12:51 pm
Prof_Pretorius
Veteran
Joined: 20 Aug 2006
Age: 66
Gender: Male
Posts: 7,520
Location: Hiding in the attic of the Arkham Library
16 Sep 2008, 5:00 pm
16 Sep 2008, 7:07 pm
I reincarnate as ming on a Singapore stock message board and this is what I wrote about Lehman's demise on Monday night Singapore time as the reality that Lehman was being liquidated sunk in. It has been a rough few days because psychologically I had expected Lehman to announce sealed capital raising initiatives that would have sparked a global rally. Instead that dick head Richard Fuld told the world that he was going to do nothing.
My apologies to the board. I was wrong, people do care about Lehman after all. 
The news articles hint at a lot of ugliness. All the heads of the various major banks attended meetings to discuss what should be done about Lehman, but no one from Lehman was there. It was like Lehman was dead to them even before time ran out. Over the weekend it was clear that Lehman needed to do a deal with Barclays or Bank of America. Everyone understands that it is not in Lehman’s favor, but in the absence of a deal, there is certain destruction. The press says that the hurdle to a deal was the American Government’s unwillingness to provide any support, but I think a deal did not happen because Lehman actively opposed it. The U.S. Government is not providing any support to the proposed Bank of America acquisition of Merrill Lynch and Merrill is no less exposed to the mortgage market than Lehman is, but that deal is going ahead, or so we have been told. So the lack of government support cannot be the stumbling block. No deal, so there must be liquidation. To forestall that, Lehman wants to claim Chapter 11 protection. But broker-dealers cannot be protected the way an airline or automobile manufacturer can be protected. There are almost no hard assets on the balance sheet, only financial instruments. If you add the numbers up and there is a hole, no amount of court protection is going to make that go away. The Chapter 11 filing was futile from the very beginning.
They must have been trying to stare down the government in the belief that the government would not let them fail. How silly is that? No one on the other side can afford to let people think that they are weak. The country is fighting two wars for heaven’s sake and you think that they would not let Lehman fail? They would do it just to make the point that no one must ever cross them. How else will everything hold together?
Lehman’s heroism is not going to make any difference. There is just way too much money waiting to be put to work. The interested parties have money and everyone else has money that has been piling up now that all major markets have sold off. All that is needed is a spark and that should have been Lehman’s honor. Instead, we have this sickening mess. The SEC has started to move accounts from Lehman and other brokers are frantically trying to unwind their trades with them. Already Lehman has been fatally damaged, but by the end of this week, the bones would have been picked clean. Markets are not going to crash because of Lehman. There are some very powerful interests who will take care of that. So what was all this for?
16 Sep 2008, 9:47 pm
16 Sep 2008, 10:03 pm
17 Sep 2008, 9:52 am
Meh. Hello, first post from me and I don't mean to sound rude but......
Educate yourselves - look up 'money masters' on google
It's all smoke and mirrors. Our (European and US) economy is built on the biggegest scam in history. At the end of the day this 'crisis', which like the great depression is manufactured, will only make the real money men even more powerful and able to control even more people by debt. Debt is slavery of the free. This is why we have 'cycles', when times are good money is like confetti, we are told to spend spend spend. 'Oh need some more, here have £50,000 to play with'. Then when things just get a little too good it's time to flip everything on it's head, oh I'll be wanting that 50k back, ta. This is why people are encouraged to live beyond their means when times are good, those at the top know when the collapse is coming and want everyone else to empty their pockets and even better, take out loans they won't be able to afford, before they tighten the flow of money. So when the time comes and everything turns to s**t and the loans are called in, you have a whole lot of people with, nothing. You'll find people are a lot easier to push around when they are desperate, I'm just hoping people get so desperate they fight back, we all know that is never likely to happen though. All that will happen is that the big financial houses will be forced to merge and create an even smaller playing field after the recovery.
Wars have been faught over this, millions have suffered and died all for the pleasure of a privileged few. Heck, Hitler and the Bolsheviks were funded from New York and London! It does not take a genius to figure out who makes all the profits from the conflicts over the world and why the developing world will probably never be developed.
The ironic thing is that modern banking was created by the bankers charging interest to loan money that they never had to start with, they made money out of thin air. Our whole society was built on imaginary money 
, if anyone else tried to pull this scam they would face an awful long stretch in prison.
As for the current situation well, once things have got pretty bad The Fed will simply pull some more money out it's ass to level things out. It controls the boom and bust cycle, from there it is like a domino effect. This is the price the whole world pays for centralised banking - our finacial destiny and (as money rules the world) our lives rest in the hands of a few greedy men.
The Bank of England, the Fed and the IMF etc are the real tyrants of the world, the real 'terrorists' that threaten the freedom of the average citizen.
Last edited by Berk on 17 Sep 2008, 11:13 am, edited 2 times in total.
17 Sep 2008, 10:39 am
17 Sep 2008, 11:17 am
17 Sep 2008, 6:24 pm
Educate yourselves - look up 'money masters' on google
It's all smoke and mirrors. Our (European and US) economy is built on the biggegest scam in history. At the end of the day this 'crisis', which like the great depression is manufactured, will only make the real money men even more powerful and able to control even more people by debt. Debt is slavery of the free. This is why we have 'cycles', when times are good money is like confetti, we are told to spend spend spend. 'Oh need some more, here have £50,000 to play with'. Then when things just get a little too good it's time to flip everything on it's head, oh I'll be wanting that 50k back, ta. This is why people are encouraged to live beyond their means when times are good, those at the top know when the collapse is coming and want everyone else to empty their pockets and even better, take out loans they won't be able to afford, before they tighten the flow of money. So when the time comes and everything turns to sh** and the loans are called in, you have a whole lot of people with, nothing. You'll find people are a lot easier to push around when they are desperate, I'm just hoping people get so desperate they fight back, we all know that is never likely to happen though. All that will happen is that the big financial houses will be forced to merge and create an even smaller playing field after the recovery.
Wars have been faught over this, millions have suffered and died all for the pleasure of a privileged few. Heck, Hitler and the Bolsheviks were funded from New York and London! It does not take a genius to figure out who makes all the profits from the conflicts over the world and why the developing world will probably never be developed.
The ironic thing is that modern banking was created by the bankers charging interest to loan money that they never had to start with, they made money out of thin air. Our whole society was built on imaginary money
, if anyone else tried to pull this scam they would face an awful long stretch in prison. As for the current situation well, once things have got pretty bad The Fed will simply pull some more money out it's ass to level things out. It controls the boom and bust cycle, from there it is like a domino effect. This is the price the whole world pays for centralised banking - our finacial destiny and (as money rules the world) our lives rest in the hands of a few greedy men.
The Bank of England, the Fed and the IMF etc are the real tyrants of the world, the real 'terrorists' that threaten the freedom of the average citizen.
Welcome to WP!
