lehmann [sic] bank is scary

[zippitippitoes]

..oh dear

Your right Chipmunks - sorry. This was on the Reuters website:
"Barclays' purchase includes Lehman's North American sales, trading, and research and investment banking businesses, as well as its midtown Manhattan headquarters and two data centers. About 10,000 of Lehman's 26,000 employees would join Barclays."

Hi Aero

It looks hopeful if your husband is able to set up interviews so quickly - wishing you lots of luck.

I'd investigate what you need to do to cash in the endowment so you know how quickly you can get your hands on the money and how much you'd get if you do need it.

It might also be worth finding out if you can switch your mortgage to interest only until you've got an income again and pulling up a list of direct debits that can be cancelled immediately - sky subscription, magazine subscriptions, gym membership, etc.

I just put something on the other thread too but a newsflash has gone out saying lehmans staff in Europe will be paid. i don't know the details.

How incompetent must a bank be to fail, they take money from you hand over fist. I'm all for a sock up the chimney ..

that's kind of why Lehmans failed - they didn't have any customers like your or me.

doh get your target market right eh

I posted on the other thread also.

'The word at the moment is that they will be paid (big meeting this morning) and that it's under the condition that they all turn up for work every day until the end of the month which I think means that they won't actually be paid on pay day which is this Friday.

Not ideal for us as all payments leave our account the day after pay day. However, we can at least now call everyone necessary and explain the situation and hopefully (providing they don't go back on their word) for this month, at least we're covered and will have some time to sort things out.'

Re cestlavie's 15:43:16 post of yesterday, saying "fundamentals of HBOS and the news flow around it is at worst neutral and as best positive versus its peers":

It turns out that Standard & Poor's said yesterday that HBOS is "'less well positioned to manage the deteriorating operating environment' than its peers".

As I said yesterday, when a company makes a sudden move that you (as a retail investor, rather than a trader glued to a Bloomberg screen) think is unreasonable, that most probably means there is news that you don't yet know. And not "the only realistic interpretation for this is short selling", as you said yesterday.

I hope you don't take this the wrong way, as I do think your posts are very valuable whenever there is an MN discussion on financial markets, but I feel this point was one worth making.

What a day! Market is speculating now that either Morgan Stanley or Goldman Sachs could be the next to tumble. MS is looking especially vulnerable.

This is far from over Im afraid

Glad to hear that Aero's dh is getting interest from other employers and going to get paid this month.

It's bloody exhausting all this worrying isn't it.

I've had a long headache over it all chip!

I'm not surprised.
I'm so knackered from worrying - feel a bit drained tbh.

Am trying to keep it in perspective though as friends have been through way worse recently and touch wood we have our health etc.
But that doesn't mean I'm not worried!

Hello,

Sorry to intrude like this, but I'm a journalist for a Scottish newspaper and I'm hoping to speak to somebody who lives in Scotland and is affected by what's happening at HBOS.

Are any of you Scottish residents and willing to talk to me? It could be anonymous if that would be easier.

I would be very grateful if you could call me on 0131 620 8426.

Thank you very much,

Fiona.

Fee, you need to do this via media/non-member requests.