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|Subject: Re: Lehman Brothers Plans to File for Bankruptcy||Date: 9/14/2008 8:40 PM|
|Author: DoctorOptimist||Number: 251853 of 457787|
I am starting to think this is a non-story.
LEH plummeted by 50% just about every day last week.
They are filing for BK with a share rice of about $2
Anyone surprised? Not me.
Change the channel from CNBC to the other cable news... not a word mentioned about this.
I think this is a story for people plugged into the financial news that try to trade every news event. For financial news addicts like us.
If there is any surprise in this, it is that the Fed DID NOT bail out the firm..... well, isn't that the kind of tough medicine a lot of us have been saying the markets needed?
I have CNBC on in the background... one expert just said they don't expect Fed to ease this week.... well doesn't that sum it up? How bad of a meltdown does that firm think this is if their own analyst doesn't even think Fed will ease?
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