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September 15 It's crazy...2008年5月，1923年成立的Bear Stearns以每股$10被JPMorgan Chase收购。由于shareholders的起诉比3月deal的$2/share提高了很多，但比起$133的峰值，不过九牛一毛。9月，Fannie Mae 和 Freddie Mac, 两大mortgage二级市场巨头被Federal接管。 这次受subprime crisis影响巨大的另外三大银行中的两个Merrill Lynch， Lehman Brothers周日也endgame了。前者被Bank of America $29/share 收购，后者成立于1850年，是华尔街上最老的银行之一。这一年度已经有$6 billion的loss, 股价由一年前67狂跌到现在的3块多。本周末与Federal Reserve和其他一些金融机构讨论收购和bailout不成，file破产。 Greenspan周日评论说，美国经济处于once-in-a-century的危机。 美国最大的保险公司AIG也是岌岌可危。周一股票暴跌61%，已准备卖掉一些子公司来获得流动资金。JPMorgan chase和Goldman Sachs提供70-75 billion的贷款作为紧急援助。周一晚间AIG的credit rating也遭到降级。同遭此厄运的还有最大的saving and loan银行Washington Mutual. 周一被S&P降级成了junk. 某人前几天还申请WaMu的checking account被拒。。。如果申上了，估计现在就要加入挤兑（run on deposits）大军了。专家评论说WaMu零售部门目前最大危险就在于此。 Lehman's dying hours As the clock ticks down, workers file out of a Times Square skyscraper carrying what they can.By Andy Serwer, managing editor
September 14, 2008: 11:41 PM EDT  NEW YORK (Fortune) -- The last hours, minutes really, of one the world's largest investment banks make for a pretty unusual spectacle. I'm standing outside Lehman Brothers (LEH, Fortune 500) headquarters on 7th Ave and 50th street in New York City watching Lehman Brothers die. Employees, some in suits, others in casual clothes, are filing out with all they can carry as time runs out. They are walking down the sidewalk past police barricades as scores of New Yorkers and tourists gawk, some asking, "Which star is coming out?" - not knowing what's going on. A big cop issues the standard "keep moving" line to those of us who stop to gaze. He tells the crowd, "Go home. There is no one famous coming out. You are looking at a whole bunch of people who just lost their jobs." Some of the people behind the barricades are loved ones - their faces distraught, their cars waiting to pick up their significant others and their boxes. One banker carries out a pair of green Lehman umbrellas, a paltry trophy. Few parting employees are in a mood to talk - either they're still adhering to CEO Dick Fuld's tight-lipped, 'We're all in this together' policy or they're just exhausted and in major pain. "No comment," is the standard line. A TV producer tries in vain to get interviews. I managed to ask one guy how he felt: "Look at all of us with boxes," he said with a grimace. "What do you think?" As the night wears on, dozens of younger workers start coming out of the building. One yells, 'Jackals," not knowing that the crowd is made up mostly of relatives or clueless onlookers. A pair of employees walk out carrying orchids. Six months earlier and five blocks away, a similar scene played out as Bear Stearns collapsed. Tonight I'm wondering how many more crash and burn nights like this Wall Street, the markets and our economy can take. |
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