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Don't be too hard on little Simon. After all, the poor boy can't tell the difference between a real letter and a fake one. http://elitetrader.com/vb/showthread.php?s=&threadid=136369

Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story. Why did Bear Stearns fail, and how does that relate to AIG? It all...

3% is getting murdered? Pulleeze!

I don't know if its adjustable, but is there any doubt about it being a liar loan? :p

Interest on outstanding balance is 3-month Libor + 850 basis points. Damn thats around 11.3%. That will be nice, if the gov't ever sees it.

http://www.federalreserve.gov/newsevents/press/other/20080916a.htm

Adds a whole new meaning to the phrase, "High Ho Silver, Away", now doesn't it Tex?

Well, the banks are not actually selling assets to the FED. Its more like taking a burnt-out toaster to the pawn shop, and the owner giving you MSRP in return. :p

Yep, I'm not much for predictions either. How many times have I said the market can't do this or the market can't do that, only to have the market shoot me the bird. I'll be cautious tomorrow, and only try and trade with the trends.

Funny! Not long ago you were saying the same thing about ES down 40. BTW, its down 42 right now.

Yes, I corrected that post a couple of posts earlier. What threw me were all the news reports saying a decision needed to be make before Asia opened on Monday. Apparently, they were unaware that Asia was closed as well.

On second thought, make that 24hr and 35 min. Apparently, most if not all Asian exchanges closed Monday.

Its going to be interesting when Asia opens up in about 35 min.

I guess you didn't notice that 10+ point ES run-up in the last 30 min. on speculation a LEH deal would get done. My bet, literally, is that the ES is down hard.

BOA talking merger with MER. http://online.wsj.com/article/SB122142278543033525.html?mod=hpp_us_whats_news

BOA walks on LEH. http://www.bloomberg.com/apps/news?pid=20601087&sid=aW2k6NiDhqJ0&refer=home

According to WSJ, BOA and MER are talking merger. Bank of America and Merrill Lynch & Co. Inc. are in merger discussions, according to people familiar with the matter. The talks come amid a Wall Street scramble to sort out a potential liquidation of Lehman Brothers Holdings Inc. Bank of...

I don't trade equities, but isn't margin 200% on overnight trades? I read Cutten's post as referring to a swing trade, but he can speak for himself.

Mark McQueen, the submitter, states in his blog "I have no idea if it is real, but perhaps it should be if it isn’t. I was just having some fun". http://www.wellingtonfund.com/blog/2008/07/17/from-the-desk-of-dick-fuld-lehman-brothers-ceo/

What does the fact the "letter" appears on Joe Schmoe's website have to do with whether it is genuine? Look at the paragraphing. No CEO of a Fortune 50 company is going to have one and two sentence paragraphing. Further, there is no date on the letter. I would bet that Mr. Fuld knows...