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04 Nov 2010 20:39

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Biz: Stock market really likes Federal Reserve’s stimulus plan

  • 11,434 the Dow Jones Industrial’s close today, the highest close of the entire year so far
  • 1.96% the leap the Dow made in reaction to the Federal Reserve’s $600 billion money bomb announcement source
  • » The most impressive part: This is the highest that the Dow has closed since September of 2008, just before Lehman Brothers collapsed and turned the stock market into a shell of its former self. Alright, great. Now when are these largely rehabilitated firms going to start hiring some people back so everyone else can feel the economic recovery?
Posted by Ernie Smith • 0 Comments • Permalink

04 Jun 2010 13:22

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Biz: Lehman Brothers’ art library is on the market, kids

The failed company will pay off some of its debts by selling off their art. It’s expected to raise $10 million; this painting alone should nail over $500,000. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2010 11:22

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Biz: Lehman Brothers hearing: Who is this bad@$$ at the podium?

  • William Black here just got his teeth out and threw some knowledge out on the SEC, Lehman Brothers, and the financial system in general. He calls the problems that caused Lehman’s decline a “self-fulfilling policy of regulatory failure.” Why isn’t this guy like, running an agency? This is seriously a star turn here. source
Posted by Ernie Smith • 0 Comments • Permalink

12 Mar 2010 10:32

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Biz: Lehman Brothers’ poison of choice named Repo 105

  • Among the toxins discovered was something called Repo 105. … Even if Repo 105 wasn’t lethal it was certainly poisonous.
  • Reuters columnist Antony Currie • Regarding the accounting trick that seems to have done in Lehman Brothers, among other things. An autopsy of the company’s corpse suggests that many of the top leaders – including CEO Richard Fuld – were responsible for a culture of ineptitude that allowed the company to fall apart, especially in its last year. Need a face for the financial crisis? Here’s a good one. source
Posted by Ernie Smith • 0 Comments • Permalink

07 Sep 2009 20:34

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Biz: Ex-Lehman Bros. CEO Dick Fuld tired of getting “dumped on”

  • You know what? The anniversary’s coming up. I’ve been pummeled, I’ve been dumped on, and it’s all going to happen again. I can handle it. You know what, let them line up.
  • Former Lehman Bros. CEO Dick Fuld • Describing the torrent of criticism he’s gotten since the company completely collapsed last year. Fuld has been a bit press-shy since the collapse for understandable reasons. “Nobody wants to hear it,” he says. “The facts are out there. Nobody wants to hear it, especially not from me.” The full article is quite good. If you choose one link to click on tonight, choose this one. -> • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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