Another weekend, another bailout?

This week the media was all over the 158 year old Lehman Brothers and its problems. Rumors about no bailout circulated the Korean Development Bank had passed, that Goldman Sachs had passed, that Private Equity wanted in but couldn't due to regulatory reason and the fast money is on Bank of America doing a "Bazooka Wedding" under the watchful eye of the Fed and the Treasury. Via Big Picture.

The rumor is that the suitor is looking for a Bear Stern, JPMorgan like deal where the taxpayer assumes $30Bn of future liabilities. What's another 30B in the face of a Trillion. Funny how we have become so accustomed to big numbers like these.

My money is on a bailout and the fact that this one is "the last one". We will see on both counts.

Comments

douglas dooley said…
Marcf,

maybe you can explain something that i have noticed the past year:

why is it that when i pick up the Economist, the previously ignored, but now much coveted Financial section is probably the most vital information i receive week in-and-out...

it is why i like the emphasis of your blog these days...

am i suddenly interested in Wall Street antics simply because they are all getting their a*ses handed to them, or do i really need to learn about derivatives...

i think its the former, i just think its about time these amateurs felt the pain that the Internet industry had to go through earlier this decade...

keep it up...
Hehe, if it keeps going like this 30B will no longer be "a big number". It may buy you a nice dinner though ... if you have a discount coupon.
Daniel Brum said…
Looks like not this time...

http://www.ft.com/cms/s/0/b3506214-80d5-11dd-82dd-000077b07658.html
Marcf said…
Hey douglas,

These days it is a too interesting to talk about anything else really. There is a certain morbid fascination. Tough to trade on it.

Derivatives are fun to learn but I am not entirely convinced of their benefit outside of being a hedge.

Go for simplicity these days.
Marcf said…
Andrei, it doesn't in zimbabwe. I see hyper inflation as unlikely. We may see asset deflation masked by monetary inflation. Capital looses.
Marcf said…
Hey Daniel,

Yeah I saw that... the market remained neutral on the news not buying it. Note that the article says that FED doesn't put money in it (it's out), doesn't mean they aren't brokering it. At this point it's all debt anyway no more assets at the FED.
Anonymous said…
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