Video: The Lessons of Bear Stearns
Here's an interview at the Nasdaq with Yahoo! Tech Ticker on Bailouts, AIG, Lehman and the Bear Stearns.
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Good stuff
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Previously:
The Terrible Lessons of Bear Stearns
http://bigpicture.typepad.com/comments/2008/09/the-terrible-le.html
Source:
Lessons from the Fall: What Bear Stearns Had that Lehman Didn't
Posted Sep 17, 2008 08:49am EDT by Aaron Task in Investing, Recession, Banking
http://finance.yahoo.com/tech-ticker/article/61737/Lessons-from-the-Fall-What-Bear-Stearns-Had-that-Lehman-Didn't?
Wednesday, September 17, 2008 | 12:00 PM | Permalink
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The most astonishing thing for me, watching the national and international events of the past week or so — and especially the last 48 hours — is how completely “out of it” all the major players seem to be. Whether politicians, capitalists, journalists, or pundits, everyone seems to be addressing mental events or formulations that have nothing to do with what’s happening in our lives right now. Feinting at phantoms, you might say. That’s why every action taken is already too late to matter...
Posted by: Juan del Llano | Sep 17, 2008 12:09:24 PM
"I now agree with Tom Brown that the worst is over in [subprime] and we are beginning to see survivors as the money pours into this sector from non-traditional sources." James Cramer, March 8, 2007.
Posted by: Eric | Sep 17, 2008 12:29:41 PM
Is US going to nationalize auto makers? See GM and Ford.
Posted by: cloudy | Sep 17, 2008 12:30:47 PM
Great segment, Barry! You are very natural and well-spoken in front of the camera! The original post was great and deserved some airtime! Thanks I wouldn't have seen it if you hadn't put in on your blog as I don't have a boob tube.
Poster Cloudy, Exactly! where do they draw the line! Can you visualize riots in the streets of DC? I can.
Posted by: karen | Sep 17, 2008 12:40:10 PM
Funny! BR.
"Vote for: Uncle Sam to DOW 30."
We insure the Insurers!!
Posted by: Nihilism | Sep 17, 2008 12:54:13 PM
Found in this AM's NYT - Too good miss!
“The Markets They Are A-Changin’”
(to the melody by Bob Dylan)
Come gather round ‘bankers’
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You’ll be told to go home
If your job to you
Is worth savin’
Then you better start swimmin’
Or you’ll sink like the DOW
For the markets they are a-changin’.
Come hedgefunds and bear traders
Who prophesize and sell short
And keep your eyes wide
The chance won’t come again
And don’t speak too soon
For the markets still in spin
And there’s no tellin’ who
That it’s namin’
For the markets they are a-changin’.
Come senators, congressmen
Please heed the call
Don’t stand in the doorway
Don’t block up the hall
For he that gets hurt
Will be he who has stalled
There’s financial meltdown outside
And it is ragin’
It’ll soon shake your windows
And rattle your walls
For the markets they are a-changin’.
Come Central Bankers
Throughout the land
And don’t criticize
What you can’t understand
Those OTC derivative books
Are beyond your command
The old road is
Rapidly agin’
Please get out Bernanke and Paulsen
If you bail them out
For the markets they are a-changin’.
— Posted by williambanzai7
• 9.
September 17th,
2008
7:10 am
http://norris.blogs.nytimes.com/2008/09/16/socialism-21st-century-style/index.html#comment-32466 5th comment
Posted by: Tom | Sep 17, 2008 12:55:05 PM
Job Posting from Near Future: Treasury Needs a PE Manager
from Paul Kedrosky's Infectious Greed
Sooner rather than later, Treasury and the Fed need an in-house private equity manager. Why? Because it now owns a new, large and growing portfolio of semi-public companies, including Freddie, Fannie, and AIG. And it not only has massive stakes in these companies, it is injecting more money, inserting executives, and changing/altering the board.
I would rephrase it as USSRA (United Socialist State Republic of America) PE Manager ;)
Posted by: km4 | Sep 17, 2008 12:57:09 PM
I would like to remind everyone that the fallout in commercial real estate has yet to hit the financials.
Posted by: karen | Sep 17, 2008 1:00:38 PM
Well, believe it or not, today Fortune has an article, yes even with the housing numbers, even with EVERYTHING, that we are still not in a recession.
http://money.cnn.com/2008/09/17/news/economy/colvin_recession.fortune/index.htm?postversion=2008091711
I am feeling better already..maybe some popcorn..maybe even a new subscription to Fortune..
Bruce in Tennessee
Posted by: Bruce | Sep 17, 2008 1:03:43 PM
who's getting canned first?
Morgan
or
Dennis Kneale
Posted by: thezo | Sep 17, 2008 1:09:45 PM
Do we go back up from here? If only we could have taken out 1,170 on the s&p with some force... Of course I'm short...but thats not what the girls say!
As far as these bailouts go: where's it going to end? We still haven't seen ca-PIT-tu-LA-tion!
Posted by: Concerned Citizen | Sep 17, 2008 1:10:45 PM
Can anyone throw some light on how the Fed's Balance Sheet is going to look like after all these recent bailouts and all?
Posted by: pj | Sep 17, 2008 1:16:14 PM
who's getting canned first?
Morgan
or
Dennis Kneale
Posted by: thezo | Sep 17, 2008 1:09:45 PM
Please let it be him AND Michelle Cabrera-Caruso and that goofy, cocky grin of hers.
Posted by: Jeff M. | Sep 17, 2008 1:30:05 PM
S&P at 1165. Looks like nothing is gonna stop this one.
Posted by: pj | Sep 17, 2008 1:37:54 PM
If the XLF can make it to $16 before the end of the month, it's probably worth buying some.
Posted by: DL | Sep 17, 2008 1:42:50 PM
Has the government really solved anything with these bailouts? They haven't bailed anyone out. The obligations have just been transferred to the taxpayer. Michael Pento (Kudlow & Co.) has this nailed. Check this out:
http://www.greenfaucet.com/mid-week-reality-check-corporate-obligations-shifting-to-taxpayers/69211
Posted by: Jeff Hansen | Sep 17, 2008 1:58:03 PM
substitute "suckers" for taxpayers(one and the same)
and you have what "capitalism" grinds
down to in the end.
I also fully agree with what Karen said,
wait until the fall out of corporate real estate. OUCH
Posted by: MarkTX | Sep 17, 2008 2:09:18 PM
VIX at 35.
Starting to get interesting.
Posted by: DL | Sep 17, 2008 2:18:35 PM
If there is a PPT you would expect them to start doing some heavy lifting about now... this really is the edge of the cliff here.
Karen, gold now up 10% on the day and we can probably expect the gold stocks to fly for a few days on this move.
Posted by: leftback | Sep 17, 2008 2:30:07 PM
Weekly unemployment tomorrow??? Any ideas...
Posted by: Concerned Citizen | Sep 17, 2008 2:31:47 PM
Why do we continue to call them "lessons learned"? Nobody ever learns anything. The same players do the same things until they can't get away with it any more.
Rinse(bailout) and repeat.
Posted by: emailcraigs | Sep 17, 2008 2:34:14 PM
Mack just said the same thing as Fuld did about short sellers and look what happened.
When will they learn?
Posted by: JB | Sep 17, 2008 2:43:52 PM
Cramer blaming the Feds again. What a convenient continual scapegoat for he and his awful forecasts. This is utter nonsense. The Feds haven't been perfect in their handling of this, but we know where the real blame lies - the greedy jackals on Wall Street who CAUSED this mess.
Posted by: Jeff M. | Sep 17, 2008 2:46:39 PM
Oh shit! Creamers on the tv giving all his ideas about how to solve this problem. He must be losing his ass!!!
Just let me say that to distruct creatively, is what it is all about. Which means let the seed that falls from the tree find a home! Other trees will grow...
Posted by: Concerned Citizen | Sep 17, 2008 2:49:51 PM
Does today officially mark the
1st day of ZIRP
^irx = 0.04%
low = 0.01%
high = 0.55%
Let the Pump start/continue
Posted by: MarkTX | Sep 17, 2008 2:49:54 PM
