>> Thanks Robt ... that was simply exquisite, well done.
A Scot's colorful take of that ill-fated meeting over the weak failing
end
http://thescotsman.scotsman.com/latestnews/-How-the-Masters-of.4494032.jp
Meanwhile, there's CNBC rumor that prospective buyer BARCLAY BANK
wanted LEHMAN BROS to go into chapter 11 legal volutary bankruptcy in
order the get the assets more cheap including legally screwing the LEH
stockholders & employees (TWENTY THOUSAND EMPLOYEES) who are now
seemingly completely peed off at their proud but mis-calculating
leader RAY FULD
LEH IS NOT REALLY POOR: Bill Gross the PIMCO bond sage says LEH is not
really that "insolvent," and apparently a liquid loan was what they
had needed because they're too cash poor
Obviously their peers/competitors are saying, "tough-shitsky," and
return to their dark Lincoln Town Cars
Merrill Lynch proves much more adaptive than Lehman Bros today, as THE
BANK OF AMERICA
is now gonnabe even a bigger biggee by acquiring Merrill for $50
billion
AIG, a TRILLION dollar insurance giant, is considered now to be the
next gigantic chapter 11 loser. Yet, Bill Gross says, AIG is not
really "insolvent" either.
--------------------------------------------------
but "insolvent" merely means one knows that they are unable to pay debts
when they are due, and when that happens Directors are lawfully required to
act accordingly. Even if it is a $10 loan and you only have $9 and the
debtor won't renegotiate, and you can't borrow the extra dollar, then the
company is "insolvent".
iow "bankrupt" .... no matter what assetts one might have, or could get for
them in a month from now, if the debt is due today, that's it.
