virtual stock exchange

[ouss]

lehman taking a huge hit. market betting its the next shoe to drop.

still time to short ibanks? some of them are trading near two times their book value while bear stearns deal valued negatively business (250 paid - 1 billion building worth = -750 business value) according to a credit suisse analyst

[constant struggle]

great time to be working in the industry(10)

djrajio how is it by you

[ouss]

jp morgan up 10%

bear down 84%

[constant struggle]

lehman is next

[ouss]

lehman down 40%

[ouss]

but they're now authorized to borrow directly from the fed

[constant struggle]

mm yes true, but if there is no customer confidence, even though they can borrow from the fed, there will be no business, although their counterparties will still interact with them since they can borrow from the fed...

too bad bear stearns couldn't borrow from the fed whatever they wanted, the 30 bil was not enough i guess....

alas that is the market

this is going to take years to get back to normal

[djrajio]

lehman is next

Fuck you bitch!

[djrajio]

djrajio how is it by you

I have an interview with a hedge fund today. Oh the irony. hahahaha.

[peteyross]

Now is a wonderful time to be employed at a boutique firm with really high profit per employee. There is an extremely high chance that I'd be unemployed if I worked at a large firm. Did anyone see the $2 bill taped to the door of Bear Stearns? Funny, but not so funny at the same time. It's tough watching other hard working people's professional lives just go up in smoke.

[djrajio]

Apparently some cowell banker real estate broker was giving his card out to Bear Stearn employees as they left the firm just in case they were interested in moving to "more accommodative housing".

OH THE IRONY!