Lehman Brothers Collapse “Like a Massive Earthquake” Sep 15

Lehman Brothers Collapse

Sep 15, 2008. The venerable Lehman Brothers investment bank said early Monday that it will file for bankruptcy, while Bank of America unveiled plans to buy Merrill Lynch — two pieces of news that profoundly alter the American financial landscape. The fast-paced changes capped a roller-coaster Wall Street weekend and threatened to stir up US financial markets already reeling from woes at other major financial firms and mortgage financing titans Fannie Mae and Freddie Mac. “This crisis is clearly deeper than anybody had imagined only a short time ago,” Peter Stein, an associate editor at The Wall Street Journal in Asia, told CNN. Lehman Brothers said in a statement early Monday that it plans to file for bankruptcy under Chapter 11 of the US Bankruptcy Code. The 158-year-old investment bank had been undermined by bad bets on real estate — the value of its shares declined 94 percent this year. The fall of Lehman followed a wild, three-day scramble by top Wall Street executives and federal regulators, who worked around the clock to come up with a solution to a still-unfolding financial crisis. By the end of the weekend, the Federal Reserve had stepped in to try to calm the markets by announcing plans to loosen its lending restrictions on the banking industry. A consortium of 10 leading domestic and foreign banks agreed to create a billion fund for loans to troubled financial firms. Source: edition.cnn.com _______________________________________ Sep. 15, 2008. Global

1/30/12 Protest of a foreclosure auction in front of the home of the Medina family in springfield, MA.

  • rougebull77

    BCG partners idiot – He means BGC partners

  • tatsf226

    they lose job, and earn million dollars.

  • dreamEternal

    Began 30 years before now. This is the result of the cause.

  • miguel4897

    This is when it all began….

  • TheREIMaverick

    yea…this is a great video! Thank you for posting!

  • thomasucc

    Can Lehman pay back Bank of Ireland the 2 billion the asked and got

  • steelers9609

    If the idiots from the FSA had let Barclays to buy Lehman prior to the Chapter 11, they wouldn’t have lost jobs and the crisis may have been averted. Instead they said that they didn’t want to “infect” the British financial system. What a joke!
    I wonder if anyone at the FSA has ever heard of counterparty exposure? Besides, the British banking system was one of the worst int he world already in terms of capitalization. Oh, you poor little Britain!!! This is exactly why you lost the Empire.

  • vergalechera

    HATRED.

  • salahuddin786

    Twin Towers collapsed 9/11

    Lehmans Collapsed 9/12

    Goodness we are in Sept 2009 – watch this space as it is the month that HATES America

  • JSan898123

    write some smack at wallstreetunemployed.blogspot

  • lethal1960

    stepper 11 you need to research your countries behaviour.
    as an empire your country is directly connected to the deaths of countless people around this globe.
    your corporate owned media simply airbrushes it out.i love opinions i listen to them carefully,but i detest opinions based on total ignorance.
    so wake up
    and nudge awake the rest of your fellow countrymen wallowing in the same ignorance.

  • Stepper11

    You know nothing about me,which is apparently the same amount you know about politics or economics. Which is why you miss my point entirely. America is great, or has been in its past and potential.This is why we should not allow the “f#%d up” world to drag us into the morass. We are supposed to lead by example, showing the world what a truly freedom-loving people can be. America was created & designed for just that, but we are not currently living up to that, and all the world suffers for it.

  • Stepper11

    It will save trillions, actually. An overextended military was a primary contributor to the death of the Roman and British empires. We need to go back to being a great nation, not the biggest, baddest, meanest cop on the street.

  • Dotveoh

    CNBC reported that Fuld was attacked and “knocked out cold” at the Lehman Brothers gym due to Lehman’s declaration of bankruptcy.

  • yourmyboyblue5

    your an idiot are you seriously suggesting that the american taxpayers are completely innocent in all of this and that only american tax payers are the ones suffering for actions under taken by investment firms throughout the world?

  • Stepper11

    Yeah, we might make a good start by bringing our military personnel back from the 130 freaking countries where we have them arrayed so we can show the world how tough and strong we are, like a pimply fourteen year old drunk waving a gun around.

  • yeahdude7

    Hahaha Jews go down!

  • simonbayes1

    I think maybe its time to get back to basics and change our life styles, try growing our own food again, rather than going to the supermarkets every day, help each other rather than make a fast buck. Peace, not war.

  • simonbayes1

    Dont forget the Rothchilds and Rockafellas ,take off their heads as well.

  • porche75

    you can totally quote the Aesop’s fable about the Hen that laid the Golden Egg in this context. When you destroy the source of gold …aka people, you destroy the gold.

    And one mistake, there’s nothing wrong with “earning millions”. Stealing it is. American taxpayers are going pay for everyone else’s mistakes and all of the krap they purchased on these loans. It’s highway robbery if you ask me.

  • porche75

    As an American, i apologize to the world for this. It is horrible to not only get fired, but have cameras in your face as you lose your jobs, these guys are just working schmoes. With that being said, the regulations in America became too laxed. If anyone bothered to see the weak value of the USD, you might notice that the economy really wasn’t strong enough here to support the cost of housing. But like the great crash of 1929, people got loans they couldn’t pay off. What a mess.

  • Stepper11

    I feel so bad for these folks…for all of us, really. But hey, at least the mother suckers that caused it all will waft daintily away to private islands with millions and millions of dollars on tightly woven golden parachutes. And the fatcats in Washington got their pockets lined, so now it’s time for a well-earned vacation. Pelosi, Reed, Bush, Obama….behead them all, along with their cronies, and make a national holiday of it.

  • Enoch2

    Like a massive earthquake…out at sea. So now there’s a tremendous tsunami rushing towards the shore, and the US bailout is like an outdated system of levees…
    “And said, Naked came I out of my mother’s womb, and naked shall I return thither: the LORD gave, and the LORD hath taken away; blessed be the name of the LORD.” -Job 1:21

  • Psalm23YHVH

    Very true, same in relationships women and men will just use you and clean you out then move on, its an evil place, we need to all turn to the Lord and read the Bible and stop chasing worldly tempoary carnal pleasures of the world, thanks for your answer Strong cats

  • strongcat3236

    U are right. The banking empires are built on blood, wars and corruption. The rockefellers and rothschilds are the most evil people on earth.

    Lehman is just as bad and the collapse is gods will. No one should feel sorry for any banking firms cos they fund organised crime and buy off the media. Thats a fact.