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Just noticed that Lehman Brothers have gone bankrupt and Merrill Lynch has been sold off before the same happened to it (at a ridiculous markup).
I wonder if there'll be an international finance sector left when I get back from holiday.
I wonder if there'll be an international finance sector left when I get back from holiday.
no subject
Date: 2008-09-15 08:53 am (UTC)no subject
Date: 2008-09-15 09:24 am (UTC)no subject
Date: 2008-09-15 02:40 pm (UTC)More seriously, I suspect that the real problem here is that all of the people who benefited from the irresponsible lending practices etc. have pulled their money out of the system, and are now living it up in Antigua or something and donating to McCain. So by buying out the smoking wrecks they left behind, the govt is effectively not only sticking the taxpayer with the bill for the rampant fraud legitimized by the 7.5 years of financial deregulation by Bush, but also with the advertising bill for selling the next round.
</bitter>
no subject
Date: 2008-09-15 04:28 pm (UTC)... errr, why are we leaving, again ? :-)