Fefes Blog

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Sat Mar 22 2008

• [l] Bankendomino: Morgan Stanley, Lehman Brothers und Goldman Sachs borgen alle nach dem neuen Fed-Notfall-Programm. Natürlich geben sie damit praktisch zu, dass sie in Not sind, und wer will das schon zugeben, daher haben sie einmal das Bullshit-Bingo-Department abgeleint:

  "We have tested the window because we want to remove the stigma from the window," said Morgan Stanley Chief Financial Officer Colm Kelleher in an interview yesterday, referring to the Fed lending program. "It's meant to be there for normal business. It's not meant to be there as a last-recourse thing."

  Erin Callan, chief financial officer of Lehman Brothers Holdings Inc., said the company used the window Tuesday night, adding: "We wanted to show some leadership."

  Michael DuVally, a spokesman for Goldman Sachs Group Inc., said his firm also is "testing" the Fed facility, which opened Monday, and will use it "if doing so makes sense from an economic and funding diversification point of view."

  BWAHAHAHAHA, leadership! Muhahahaha, ich lach mich kaputt.