Lehman Brothers is getting pounded today

[BettorsChat]

Is getting pounded today on what is probably more fear than reality, because of what happened to Bear Stearns the 5th largest banking investment group.

Bear Stearns is being bought out by JPMorgan for $2 a share.

$4.11 down $25.89 or 86% BSC bear stearns
$24.70 down $14.77 or 38% LEH lehman brothers

[dakingisdead]

Lehman might be next, then citi? Lawsuits to follow.

[BettorsChat]

Lehman might be next, then citi? Lawsuits to follow.

I don't think Lehman is going anywhere. Citi who knows as well known trader is short on them, but they got a lot of cash infusion not too long ago.

[atolunch]

You have to love that the Fed is bailing these guys out.

So these cash whores, make tons of money, now the taxpayers via the Fed step up to save these greedy bastards, because they made too much money when times were "good".

Unbelievable.

[BettorsChat]

You have to love that the Fed is bailing these guys out.

So these cash whores, make tons of money, now the taxpayers via the Fed step up to save these greedy bastards, because they made too much money when times were "good".

Unbelievable.

That's one way to look at it, but the other way is what about all the Bear Sterns people? I mean if no one buys them out they have nothing. Of course they are only getting $2 a share so they have lost almost everything they had to begin with.

Now JPM is coming out of this nicely by getting a secured loan from the Feds to buy Bear Sterns.

A big problem is that these places are playing around with a lot of paper money and its not accountable. So no one really knows how exposed any of these places are and that needs to be changed.

I don't understand why a CEO that does a shitty job gets a huge payout. It should be based on performance.

[dakingisdead]

I don't think Bear Stearns execs have the golden parachutes like most companies. A lot of their wealth was from stock price.

[BettorsChat]

Is getting pounded today on what is probably more fear than reality, because of what happened to Bear Stearns the 5th largest banking investment group.

Bear Stearns is being bought out by JPMorgan for $2 a share.

$4.11 down $25.89 or 86% BSC bear stearns
$24.70 down $14.77 or 38% LEH lehman brothers

LEH closed yesterday at $31.75

Opened today at $38.04 and is currently trading at $45.25

That's a difference of $20.55 per share gain! in one day.