Interesting take via Bloomberg on the Barclay’s takeover of Lehman:

"The name on the building is gone. So is the fast-moving video display of clouds in a blue sky over a wheat field combed by wind and followed by a message: “Delivering our firm to clients worldwide.”

In their place on the façade of the 32-story headquarters building of Lehman Brothers Holdings Inc. at 745 Seventh Avenue in Manhattan is the white and blue logo of Barclays Plc. Inside, former Lehman employees still wear the green and white security badges of the 158-year-old bankrupt investment bank and wonder if they’ll be gone.

Nine days after Barclays agreed to pay $1.75 billion for Lehman’s investment banking and capital markets, including its headquarters, former Lehman employees at 745 say they’re in limbo on whether they’ll be retained by Barclays and under what conditions."

These are strange and interesting days . . .

>

Source:
Barclays Puts Logo on Lehman Office, Gets 32-Floors of Anxiety
Serena Saitto
Bloomberg, Sept. 26 2008
http://www.bloomberg.com/apps/news?pid=20601109&sid=a3m8E8E2l93A&

Category: Credit, M&A

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

19 Responses to “32-Floors of Anxiety”

  1. dc says:

    “These are strange and interesting days . . .”

    Indeed. How is it that the Republican President’s bailout plan’s biggest supporters are Nancy Pelosi and Barney Frank? dc

  2. Greg0658 says:

    does this world financial system have a Microsoft style Restore OS to Mar07 backup function?

    :-) :-| :-(

  3. free markets! says:

    Our goal: is to destroy value for our share-holders and clients, by developing and delevering shity derivative-based-securities.

  4. Jim Haygood says:

    My wife, who walks past Lehman every day, says that the building lighting has been changing in weird, ominous ways.

    On Wednesday, she said that the images were gone. The lighting was all red, and THROBBING in intensity, like a slow heartbeat. Everyone in her office who saw it, thought it was very bad juju. As do I.

    Who was the madman on the light board? Is he programming the settlement system too? Oh, my …

  5. Eric says:

    if there were a single headline that sums up Vince Farrell’s attitude towards the whole crisis, it is the one he just wrote this morning: “Let the Leaders Lead: It’s time to act, and we have the right people doing the job”

  6. karen says:

    I INTERRUPT THIS THREAD WITH A VERY IMPORTANT MESSAGE:

    Bush to Wall Street: Don’t fret, a mortgage plan will pass
    9:46 AM ET | Marketwatch

    REMEMBER, HE IS THE DECIDER.

  7. km4 says:

    Modern day GOP is the party that wreaked America’s middle class and McCain’s agenda is just more the same.

    We’ll see on Nov 4 if more Americans can be hoodwinked and vote against their self interests 3 times in a row.

    If so they win the trifecta to the poor house ;)

  8. gary says:

    What happened to Neuberger? It was the crown gem (supposedly) of Lehman, and sell rumors swirled. Is it on the block, sold?

  9. Peter says:

    Fraud disclosure and Freudian slip of the tongue on world wide tv this morning:
    There are…errrr, aspects of this that are suspic…. errrhh…

  10. d'zoner says:

    “These are strange and interesting days ”

    Nowhere near as strange and interesting as they will be if McRiskitallonawhim and Mrs Moosekiller somehow make it to the White House.

  11. d'zoner says:

    “These are strange and interesting days ”

    Nowhere near as strange and interesting as they will be if McRiskitallonawhim and Mrs Moosekiller somehow make it to the White House.

  12. therealjg says:

    Bush-haters should take note their own party was at the helm in Congress – Barack and Nancy included – when the storm was easily visible, and did NOTHING to stop it. Democrats Barney Frank and Nancy Pelosi are big advocates of the Paulson Plan. Barack Hussein Obama, Agent of Change, is essentially trying to sidestep the whole thing RIGHT NOW as a sitting US Senator. He, Barney, and Nancy will not save you.

  13. RW says:

    Affirmative Action home-loans were the root cause of the crisis that is taking down the American banking system. Imagine what an Affirmative Action president can do! Go Barry!!

  14. wunsacon says:

    Politically, I think the GOP has to position itself as “against” the bailout. It’s a great move.

    Their actual plan looks like “Skippy instead of Jif”. But, just the fact that they’re “against” something Bush proposed helps at a superficial level support the argument (within GOP circles) that Bush “is a liberal and not a conservative”. If the Dems appear to be more politically aligned with the Toxic President on the most important event right before the election, then people might conclude Obama — not McCain — represents “4 more years”.

    At the very least, it makes matters so confusing that it might take away the political advantage Obama had on economic matters. Instead of talking about policy, now the MSM is discussing a narrow, inconsequential issue of “who parachuted in and did it help?”. It’s another “missing white woman” headline to entertain and distract.

    I think the move will help the GOP, if it hasn’t already.

  15. km4 says:

    McCain/Palin = Unstable/Unable

  16. Jeff M. says:

    @wunsacon: You might be right but unless they put a muzzle on Palin over the next 5 weeks, McCain is toast. She’s utterly clueless and even conservative hacks are starting to admit that.

    If the race issue wasn’t a factor, this would already be over. That’s the only thing keeping the race remotely close (if you assume the polls are right, which I don’t because they’re vastly underestimating voter turnout) at this point.

  17. wunsacon says:

    therealjg, the bubble peak was 2005. Since then, it’s been an unwind. As Mises says, there’s no way to avoid the pain post-peak. The only way to avoid the pain of the bust is to avoid the bubble.

    Not to mention the fact that there was so much fraud by the GOP during the prior years that any subsequent party had the duty to investigate.

    RW, don’t be a troll.

  18. randy says:

    sweet! maybe i will go over to 7th ave later today and heckle those douchebags who’re still at the lehman offices. they have it coming.

  19. Bonus pools drying up at investment banks

    Morgan Stanley and Goldman Sachs are delaying decisions about year-end
    compensation until they have a better idea over fourth-quarter revenue figures.
    Compensation expenses are dropping sharply across the major firms. Credit
    Suisse said compensation expenses for the first half were down 43% year-overyear
    while UBS said compensation expenses were down 50%. For more, take a
    look at page 4 of today’s FT, “Big Investment Banks Postpone Bonus Decisions.”