Tuesday, September 09, 2008

Lehman: a slo...ow-moving train wreck

Well before the Bear Sterns rescue, Lehman Brothers was considered "vulnerable." Yet, it continued to linger for so long. What were they waiting for?

What is who waiting for?
What are Lehman's managers and suitors waiting for? Why didn't they make their deals and end their firm's misery? Same holds true now for WaMu and Merrill. The writing is on the wall for them as well.
Funny- in the span of time between my writing the comment and reading your response, Lehman went down. There is no doubt that these are historic times; what I am not sure of is whether it is a privilege or punishment to be living through them.
they were waiting for a white knight

little did they know that night is always black
Is this the start of a long-term Japanese-style recession, or a mere 10-yr-budget-deficit-balloon-causing event? Either ways, this is the real test for globalization: can the global corporations and economy grow even while the US remains a bit player moping on the sidelines?
I think sometime early this year the economist magazine went back on its own 'decoupling' theory, and admitted that foreign economies weren't doing well in face of a US downturn. Sure hope they are wrong again.
Yup, you can count on the Economist to be consistently wrong. Always. :)

Indians are saying the Chinese are their biggest trading partner, not the US. Aussies say China, Japan and India are *their* biggest trading partners.

We'll see how it all pans out - perhaps not 3% global growth rate, but even 1-2% global growth would be fine...
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