Our financial system is insolvent

I'd say that you're SOL.

 

too hot to touch.

nobody holds the partners accountable.

 

They were partnerships long ago. They've been corporations for years.

Lehman - LEH ticker
Bear Stearns was BSC

 

I'm pretty sure it's not that simple.

I have to believe there will be some kind of transfer of accounts and holdings to a third party?

 

Neuberger Berman, LLC and Lehman Brothers Asset Management will continue to conduct business as usual and will not be subject to the bankruptcy case of its parent, and its portfolio management, research and operating functions remain intact. In addition, fully paid securities of customers of Neuberger Berman are segregated from the assets of Lehman Brothers and are not subject to the claims of Lehman Brothers Holdings’ creditors.

 

It's at the safest credit union I can find. And I worry about it every single day.

 

Thank you, I knew you would know.

I guess my next question would be, HAHAHAHAHAHA, what are the chances anyone actually leaves their money there??

 

Yet more proof that my investment in lotto tickets is proving to be a shrewd financial move.

 

This comment from Alan Greenspan yesterday is telling:

<blockquote>The weight of the housing and credit crises, he added, "is in the process of outstripping anything I've seen" and has yet to run its course. "It will continue to be a corrosive force until the price of homes in the United States stabilizes," perhaps next year, he said.</blockquote>
http://ap.google.com/article/ALeqM5jSSJzC1UNusL4eW21xsZ7HJcM8WQD936KFO00

So if you're looking for somebody to blame --- and someplace to fix --- start with the housing market. Once the bubble burst, things fell apart.

 

This is definitely the massive correction that was coming from the mortgage disaster.

I find it heartening that Greenspan said housing would stabilize, "perhaps next year"

 

Oh GOOD NEWS! The president just took a moment out of his photo op with the president of Ghana to express his faith in the US markets. So everything is A-OK!

 

Was that photo op part of our annual payment of food and water to Ghana as a result of our loss to them in the World Cup in '06?