tag:blogger.com,1999:blog-14162253.post6684010136175993154..comments2024-03-27T08:39:28.807-06:00Comments on Wash Park Prophet: Financial Institutions Dropping Like FliesAndrew Oh-Willekehttp://www.blogger.com/profile/02537151821869153861noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-14162253.post-39553957676826138242008-09-16T00:15:00.000-06:002008-09-16T00:15:00.000-06:00Yikes. I have quite a lot in Janus Twenty... Thats...Yikes. I have quite a lot in Janus Twenty... Thats not good. Suggestions?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14162253.post-17533481926456865662008-09-15T13:14:00.000-06:002008-09-15T13:14:00.000-06:00Perhaps they will cash out of the expensive New Yo...Perhaps they will cash out of the expensive New York real estate market and move to Denver, like I did (moved from Washington, DC area in 2006 as I observed real estate was just starting to decline, and I was doing software consulting for Fannie Mae).Michael Malakhttps://www.blogger.com/profile/10007582156392845677noreply@blogger.comtag:blogger.com,1999:blog-14162253.post-59417376228472477852008-09-15T12:42:00.000-06:002008-09-15T12:42:00.000-06:00The rank and file there have a pretty sweet deal t...The rank and file there have a pretty sweet deal themselves (even secretarial staffs are top of their market performers and paid accordingly), so I don't think that many will be heading for soup kitchens, but hundreds of thousands of members of Wall Street's financial elite from a variety of firms will have to adapt to reduced prosperity and find a way to land on their feet.<BR/><BR/>The real question is who will be displaced as these fortunate ones start to compete in the rest of the market.Andrew Oh-Willekehttps://www.blogger.com/profile/02537151821869153861noreply@blogger.comtag:blogger.com,1999:blog-14162253.post-50161383217985565512008-09-15T11:30:00.000-06:002008-09-15T11:30:00.000-06:00Lehman was a predatory lender. We could say they ...Lehman was a predatory lender. We could say they got what they deserved, except we're talking about a company rather than individuals. No doubt the executives will float down with their golden parachutes while the rank and file hit the soup kitchen.<BR/><BR/>http://papers.ssrn.com/sol3/papers.cfm?abstract_id=929118<BR/><BR/>"Of the businesses fueling this search for responsibility [for predatory lending], perhaps no secondary market participant has drawn more criticism than the investment banking firm of Lehman Brothers. For over a hundred years, Lehman has been recognized as one of the nation’s leading firms in providing financial services to corporations, governments, and individuals with large financial holdings. But in the past decade Lehman’s reputation has suffered from its business dealings with mortgage originators and servicers. In at least five separate episodes Lehman Brothers has been involved in predatory lending scandals—albeit in each instance through indirect involvement."Michael Malakhttps://www.blogger.com/profile/10007582156392845677noreply@blogger.com