UK
Inevitably, Lehman is all over the shop today as speculation mounts about who could save it from predicted ruin. Spare a thought for fat cats and small fry alike, who are set to lose a combined $10bn as the value of their stock options plunges, as well as, y’know, potentially losing their jobs. Panic is the order of the day at Lehman towers, as one employee says over a hastily-inhaled ciggie: “It’s over, man… unless we get bought out in the next 24 hours, it’s over.”
(Wall Street Journal)
Bank of America or Barclays for Lehman’s white knight? (Telegraph)
Staff struggle to work as speculation mounts. (Financial Times)
Lehman bankers take solace in cigarettes and beer.
(Financial News)
Free! Bulge-bracket investment bank.
(FT Alphaville)
The Fed’s not about to bail it out…(Bloomberg)
Lending for acquisitions and buyouts set to dry up.
(Financial Times)
Best move to the sunny world of wealth management, risk and hedge funds. (CNN Money)
“Major financial institutions have devised complex financial structures to enable their offshore clients to dodge U.S. dividend taxes.” (AP)
More action needed from UK authorities?
(Times)
Deutsche Bank set to swallow local rival.
(Reuters)
Does the credit crunch mean banks are no longer green?
(Independent)
True… Being myself a small fry there I can confidently tell you that if BOA do not buy us then we are dead…
I did indulge myself a cigar yesterday evening asking myself continuously “how the f..k did we end up there ?”….
And how can we know have the guts to advise people how to manage their finance…