lehmann [sic] bank is scary

[zippitippitoes]

..oh dear

[policywonk]

[zippitippitoes]

stuffs house with people

[Piffle]

huge
Not good
V worrying imo

[dinny]

terrifying what Greenspan said
hang on...

[zippitippitoes]

i just think what is round the corner

these institutions now dont reveal until the too late

[dinny]

"First of all, let's recognise that this [the financial crisis] is a once-in-a-half-century, probably once-in-a-century type of event... There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go."

Former Federal Reserve chief Alan Greenspan

[zippitippitoes]

i think perhaps we are looking at an apochalyptic deporesion like the 30s

[WinkyWinkola]

What can be done to ameliorate matters? I've not heard too much about this from politicians. But I'm speaking from the POV of an economic ignoramus.

There was the New Deal in the '30's, wasn't there? Did that make any difference?

[dinny]

yeah, Zippi, my dh has been saying the same for yonks - depressingly

[zippitippitoes]

ah well i was a naysayer based on available info but i think there is much not known/hidden/deceptive

[dinny]

"THE GOVERNOR of the Bank of England, Mervyn King, has privately warned Downing Street that he will resign if Gordon Brown directs the bank to become the key agency in a state-backed mortgage guarantee system."

[binkythebullet]

[Aero]

Dh works for Lehmans. He's feeling very sick right now (just seen news). He doesn't know if the doors will be open in the morning. I feel sick.

[zippitippitoes]

if youy want to look upit is lehman

aero

i think there is a lot going to come

[dinny]

oh dear, Aero, so sorry to hear this

[binkythebullet]

aero

[zippitippitoes]

obviously i realise aero knows how it is spelt just pointing out minwe was wrong

[Piffle]

we investigated 12mths ago and shed debt pronto. in fear.
So now have good equity and affordable mortage and no other debt
But still nervous
Worried for FIL as he has Investments major ones which are threatened.

[Carmenere]

fingers crossed for you Aero x

[Piffle]

oh aero :~

[Aero]

Can't see us getting much sleep tonight.

[dinny]

news.bbc.co.uk/1/hi/business/7615712.stm

[zippitippitoes]

here some info