Absolute meltdown in the city today and globally

[Digweeds Trousers]

Heads up on this......


Staff at Lehman in the US are being removed and prevented entry into their offices by the POlice.

Staff in London are being turned away from the offices and told that there are no jobs, no severance pay.

Already rumours are circulating of a number of suicides in the US with a number of staff having securitisation on property against the stocks.

This is a complete breakdown potentially of the financial infrastructure as we know it.

I am not sure whether society as we have come to know on a number of levels has the resource to deal with this.

 

[Nemesis]

Clearly all the fault of Gordon Brown.

 

[Barrel of Fun]

We can pin this one on Thatcher and/or Major, I think.

 

[strings]

I blame the french.

In all seriousness, this is a seriously worrying story.

 

[Bevendean Hillbilly]

Lehmanns in London and Wycombe have locked out 4,000 staff.

Damn, whuy is my overdraft not with them...damn.

 

[captainmorganrum]

I'm gonna get all my money out and hide it under the bed.
Then when it has all gone tits up - I shall be KING!

 

[Lady Whistledown]

Am no economic expert, but such financial crises have happened before, and will happen again.

There was a recession in the early 1990s, and a pretty grim period at the end of the 70s. The period after the second world war was pretty shattering for Britain and many other countries, and then you have the Great Depression of 1929 onwards.

It happens. I'm sure we'll get over it.

 

[One True BHA]

FT.com / Companies / US Canada - Wall Street in turmoil

 

[Billy the Fish]

Interesting, I worked on their new building in canary wharf when it was being built. The money the spent on that place was astronomical.

 

[Bevendean Hillbilly]

Am no economic expert, but such financial crises have happened before, and will happen again.

There was a recession in the early 1990s, and a pretty grim period at the end of the 70s. The period after the second world war was pretty shattering for Britain and many other countries, and then you have the Great Depression of 1929 onwards.

It happens. I'm sure we'll get over it.

And, lets face it, we'll always need cops no matter what..merchant bankers on the other hand..

 

[The Antikythera Mechanism]

Maybe, now, the Banks will regret paying the hugely unrealistic salaries and bonuses to the barrow boys & girls in the square mile. They'll have to take the rough with the smooth.

 

[Lady Whistledown]

And, lets face it, we'll always need cops no matter what..merchant bankers on the other hand..

Oh yeah, to be honest, I hadn't really thought of it from a job point of view

What can any of us do though, my point was really in relation to the first question on this thread, which was whether the world can sustain itself.

And my answer was, it always does, just with a lot of hard times for people in the meantime.

 

[Tricky Dicky]

And, lets face it, we'll always need cops no matter what..merchant bankers on the other hand..

As the financial industry brings in 17% of the country revenue, then you probably do need them.

I can see directly into Lehmans offices here in the wharf from my desk, and there are defintely people in there. Can't be sure whnat they're doing mind.

 

[Lush]

As someone who knows NOTHING about big business finance, I've never understood how corporations who don't actually own anything tangible, but just shuffle cash about, can supposedly be worth so much money - and am never surprised when the whole house of cards comes tumbling down.

*Awaits patronising pat on head*

 

[Trufflehound]

It's all Steve McClaren's fault, I tell 'ee.

 

[Jesus Gul]

should have never left Arsenal...what?!

 

[ridda]

Only two major investment banks left in America Morgan Stanley and Goldman Sachs.
[Watch this space]

 

[Carrot Cruncher]

As someone who knows NOTHING about big business finance, I've never understood how corporations who don't actually own anything tangible, but just shuffle cash about, can supposedly be worth so much money - and am never surprised when the whole house of cards comes tumbling down.

*Awaits patronising pat on head*

That's all well and good, Lush, but what do you think about fluffy kittens?

 

[Lady Whistledown]

As someone who knows NOTHING about big business finance, I've never understood how corporations who don't actually own anything tangible, but just shuffle cash about, can supposedly be worth so much money - and am never surprised when the whole house of cards comes tumbling down.

*Awaits patronising pat on head*

Women! Know your limits!

http://www.youtube.com/watch?v=SjxY9rZwNGU

 

[Uncle C]

Heads up on this......


Staff at Lehman in the US are being removed and prevented entry into their offices by the POlice.

Staff in London are being turned away from the offices and told that there are no jobs, no severance pay.

Already rumours are circulating of a number of suicides in the US with a number of staff having securitisation on property against the stocks.

This is a complete breakdown potentially of the financial infrastructure as we know it.

I am not sure whether society as we have come to know on a number of levels has the resource to deal with this.

Have you ever thought of writing headlines for the Argus?