[Marxism] Apropos of Forthcoming Bank Failures

[Jay Andrew Allen]

On Wed, Aug 20, 2008 at 10:24 AM, S. Artesian <sartesian at earthlink.net>wrote:

>
> One more thing... my new #1 prediction for the next major investment bank
> failure:  Lehman Bros.  You read it here nowhere near first.
>

It's a good bet. Lehman's been teetering for a while. Their inability to
score $5b in funding from South Korean investors (
http://news.yahoo.com/s/nm/20080820/bs_nm/lehman_korean_funds_dc_1) spells
trouble. The firm is now looking to sell off its profitable bits to stay
afloat. Analysts expect them to announce $3b in write-downs for the 3rd
quarter. (In other words, expect that figure to be larger.)

-J-

-- 
Jay Andrew Allen
http://www.jayandrewallen.net/blog/ - Out-Loud Brainwaves

"In any case, the revolution will be drowned in the ballot boxes - which is
not surprising, since they were made for that purpose." - Jean-Paul Sartre