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Old 09-14-2008, 07:47 PM
Danzig Danzig is offline
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http://www.msnbc.msn.com/id/26672904/

bankruptcy in the offing for lehman, no buyer. bank of america seems more interested in merrill lynch at this point, also in deep trouble.
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Old 09-14-2008, 07:52 PM
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WSJ just reported bank of america is buying ML for $29 a share. wow.

barclays also out regarding buying lehman, but 'talks' are continuing.
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Old 09-14-2008, 08:04 PM
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Quote:
Originally Posted by Danzig
WSJ just reported bank of america is buying ML for $29 a share. wow.

barclays also out regarding buying lehman, but 'talks' are continuing.

I think B of A overpaid by a huge huge amount (IMHO)....
That is quite a premium over the $17 share price that MER closed at...

Will provide a reason for a nice rally by the financials on Monday....

PSH
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Old 09-14-2008, 08:56 PM
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Quote:
Originally Posted by PSH
I think B of A overpaid by a huge huge amount (IMHO)....
That is quite a premium over the $17 share price that MER closed at...

Will provide a reason for a nice rally by the financials on Monday....

PSH
Futures are getting hammered right now and treasuries are way up. Ten year is yielding 3.55.

My question is when are they going to start calling B of A and Chase quasi government entities?
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Old 09-15-2008, 02:26 AM
Danzig Danzig is offline
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just saw that lehman will in fact file, they haven't got any other choice. i guess BofA announced their buy at the same time, or slightly ahead of the bankruptcy news, to help cushion the lehman blow?
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Old 09-15-2008, 06:41 AM
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Originally Posted by Danzig
just saw that lehman will in fact file, they haven't got any other choice. i guess BofA announced their buy at the same time, or slightly ahead of the bankruptcy news, to help cushion the lehman blow?
I think you are right. It makes you wonder though. If futures are down 369, how bad would they have been if the Merrill deal wasnt announced? Or maybe the merill deal just didnt have its intended effect.

In other news AIG is taking a beating (close at 12 friday and bid/ask around 6).

Also oil down to 94.
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Old 09-15-2008, 08:15 PM
Danzig Danzig is offline
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I think you are right. It makes you wonder though. If futures are down 369, how bad would they have been if the Merrill deal wasnt announced? Or maybe the merill deal just didnt have its intended effect.

In other news AIG is taking a beating (close at 12 friday and bid/ask around 6).

Also oil down to 94.
i think the worry is that there will be many more lehman-esque filings...bank of A can't buy everyone.
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Old 09-14-2008, 08:07 PM
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WSJ just reported bank of america is buying ML for $29 a share. wow.

barclays also out regarding buying lehman, but 'talks' are continuing.
this fed is absolutely amazing.
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