GenrXr
Master Chief Petty Officer of the Navy
Joined: 05 Aug 2004
Posts: 1720
Location: Houston
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 Posted: Mon Sep 15, 2008 3:59 pm Post subject: The Financial Market Mess |
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LEH and Merryl Lynch are no more. LEH went broke and Lynch is being bought out by Bank of America. AIG is about to go broke if the S&P downgrades is credit rating to junk status. Warren Buffet is said to be in talks to shore up their liquidity position and thus their credit rating, but thought of something. Why would Buffet not buy them at 20-30 billion(twice their current stock price) when they are supposedly worth 5 times or more than that?
What if all of these bankruptcies are actually being manufactured by people like Buffet and others to come in and raid the assets even cheaper. Call it a new type of robber baron. In the past they bought and sold off the parts of companies and today they let them go bankrupt, then pick and choose amongst the best assets, while the share holders and tax payers end up footing the loss.
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"An activist is the person who cleans up the water, not the one claiming its dirty."
"All that is necessary for evil to triumph is for good men to stand by and do nothing." Edmund Burke (1729-1797), Founder of Conservative Philosophy |
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