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Saving Lehman - Your Comments

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Financial Markets HR
DirectConnect July 08
Here's a selection of comments we received on Wednesday's appeal for sanity and the survival of Lehman Brothers.

1. 'With all the talk about short-sellers creating so much damage, why isn't the SEC enforcing the laws that are already in place to protect the public ?'

2. 'It's very noble for HereIsTheCity to come out with a piece that makes total sense, but, as you suggest, there's just too much vested interest out there. Shorting Lehman is just another trade - no matter what the consequences for staff, shareholders and the market generally'.

3. 'I'm right with you - right up to the Fed pledge. By all means, we should buy Lehman shares, do business with the firm and 100% stop spreading self-serving and dangerous gossip. But no firm should have an ironclad guarantee from the Fed. Doing that will only encourage worse risk-taking in the future'.

4. 'Dick Fuld is a terrific CEO. He has been at the firm since One Willy days, and knows how to run a business. Lehman will come out of this fine'.

5. 'As a long-time Lehman employee, the current situation is depressingly all-too-familiar. I'm not a senior executive, so I've no more idea than most about my firm's true financial health, but what is clear is that we are now back to the bad old days of almost constant sniping at Lehman, rumours of takeovers, and comments that we are just too small to remain stand-alone. A few years ago, all that nonsense stopped, and we came to be accepted as a top player by the industry and in the media. It was nice while it lasted'.

6. 'Lehman can hardly be upset with a few folks trying to make a fast buck - something the firm would itself no doubt do given the chance. Commercial businesses should fail when they mess up. Meddling with this will do no-one any good in the long run'.

7. 'Why shouldn't firms with bad managers and bad risk management be allowed to fail ? Perhaps we should spend a few billion bailing out General Motors ? I see capitalism and free market thinking is dead'.

8. 'One thing we saw with Bear was that when Wall Street wants to bring down one of its own, it ruthlessly does so'.


Rumors Could Prove To Be Death Knell For Top Firm


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