Okay, it wasn't the household. I was sleeping in the office that week (the better to blog you my dear). Here are some of our headlines in chronological order:
Lehman Brothers: Links A/O 4:00 P.M. EDT
Lehman to File for Bankruptcy Protection (LEH)
6:55 p.m. EDT: The Mother of All Mondays (AIG; LEH; MER)
7:20 p.m. EDT; Bill Gross: "Risk of a Tsunami of Derivatives, Swaps Unwind[ing]" and: ISDA Statement on Lehman Bankruptcy Trades.
7:29 p.m. EDT; "It’s all about Merrill" (LEH; MER) and "Mean Street: If Lehman Liquidates, Wall Street Gets Set to Make a Killing"
7:45 p.m. EDT: Derivatives session to reduce risk from Lehman bankruptcy (LEH)
Rush Is On to Prevent A.I.G. From Failing (AIG)
In other news:Lindsay Lohan Goes After Palin On Environment, Gay Rights
8:30 p.m. EDT: Lehman threatens $62 Trillion CDS market (LEH)
9:15 p.m. EDT: Flight to Safety- U.S. Treasuries Soar as Lehman Brothers May File for Bankruptcy
9:25 p.m. EDT: Australian Stocks Open Down 1.5%; Central Bank Adds Reserves
10:45 p.m. EDT: Lehman Brothers Top Holdings (LEH)
One Way or Another We Will Get Through This
Bernanke Violates Federal Reserve Act Section 23A
I Wouldn't be Too Complacent About New York City Real Estate
BOHICA*-Brace for the Tsunami: Fitch, S&P Downgrade AIG (Updated)
Federal Reserve Accepting EQUITIES as Collateral
Which States are Most Populated by Neurotics?
Things that make you go "Hmmm" (AIG; LEH)
Watching Lehman crossing on the tape at two bits. The world's largest property casualty insurer in the $5's. Hmmm.There's something wrong with our bloody ships today, Chatfield.*We had a couple posts where the Admiral made an appearance:*Comment of Admiral Beatty after seeing 2200 of his sailors disintegrate. Idiot.
He was, of course, promoted, appointed First Sea Lord and granted an Earldom.
The Stock Market and the Battle of Jutland
Hey! Some Good News on AIG!
With the current Dow Jones Industrial Average divisor of 0.122834016 (a $1.00 move = 8.141 DJIA points) AIG could drop from its current $2.40 to zero and it would only knock the Dow down 19.53 points!Lehman's U.K. Landlord Says AIG Insures Rent Payments (AIG; LEH)
It would of course knock the stuffing out of the world financial system.
-Reporting from Climateer world headquarters, your Little Ray of Sunshine.
DealBreaker on Record as Calling for "Incoherent and Unpredictable Policy Responses to Financial Meltdowns"
"Don't panic - just a temporary crash floe problem."
Overheard on the Titanic.