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Lehman and Goldman Sachs Borrow $$ from the Fed after hours

 
For What It's Worth
User ID: 394988
United States
03/18/2008 08:34 PM
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Lehman and Goldman Sachs Borrow $$ from the Fed after hours
So Lehman Brothers (LEH) and Goldman Sachs (GS) announced great earnings this morning that helped drive the market to the moon today. Then had to borrow money from the Fed discount window after hours. WTF kind of game is being played? The few long positions I still hold will be sold into this “rally”.

[LEH 46.49 14.74 (+46.43%) ], which reported better-than-expected earnings on Tuesday but has faced persistent rumors of a Bear Stearns-type liquidity crisis, plans to borrow from the Fed through the discount window.

Lehman followed up on Callan's announcement by borrowing from the window within minutes of her appearance. At 5 p.m. New York time, Lehman borrowed $2 billion, sources said.

Goldman Sachs Goldman Sachs Group IncGS
175.59 24.57 +16.27% NYSE also used the discount window late Tuesday, sources said, but it wasn't clear how much money the investment bank asked for.

Here is the discussion on the subject. A hard link to the CNBC announcement is about half way down.

[link to www.tickerforum.org]
For What It's Worth (OP)
User ID: 394988
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03/18/2008 08:43 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
So where are all of the bulls from earlier today? I want an explanation as to why these two “great institutions” with stellar earnings announcements needed to borrow tax dollars???
For What It's Worth (OP)
User ID: 394988
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03/18/2008 09:47 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Could it be that GLP was right?!? So far two out of three!

Thread: GOLDMAN SACHS ABOUT TO COLLAPSE!!!
fnord
User ID: 326101
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03/18/2008 09:54 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
So long as the Fed has a monopoly on issuing dollars, we will all be paying for the lifestyles of the rich and famous, while living in hovels.

Stop using federal reserve dollars. They are poison.
Anonymous Coward
User ID: 395232
United States
03/18/2008 10:25 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Visa Raises $17.9B in Largest US IPO is Today's news annoucement After Hours??
Tomorrow on the stock market
Goggle Visa IPO news articles today--Banking connections Noted.
Anonymous Coward
User ID: 170917
United States
03/18/2008 10:47 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
these banks borrow borrow borrow,

just a delay of the inevitable

bankruptcy
Anonymous Coward
User ID: 225509
United States
03/18/2008 10:49 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
These banks BORROW with no intention of paying it back because it is the US TAXPAYER that is being FUCKED by these CRIMINALS.

WHERE is the Congress?

STOP THIS!!!!!
For What It's Worth (OP)
User ID: 394988
United States
03/18/2008 11:03 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
So long as the Fed has a monopoly on issuing dollars, we will all be paying for the lifestyles of the rich and famous, while living in hovels.

Stop using federal reserve dollars. They are poison.
 Quoting: fnord 326101


The rich get richer on the tax dole while our citizens live like this. All is not well.

[link to www.youtube.com]

[link to www.youtube.com]
For What It's Worth (OP)
User ID: 394988
United States
03/18/2008 11:16 PM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Anyone know where the Fed is getting the Stash-O-Cash for the “lending windows” etc.? There is no extra $700-800Billion just laying around the Gov for a rainy day. I know they are trading Treasury notes for poorly collateralized mortgage paper. But are they boosting the treasuries from Social Security or are they floating bonds? And if bonds, who the hell is buying them? Basically, where is the Gov accounting for this expenditure?
Anonymous Coward
User ID: 351554
United States
03/19/2008 12:27 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
GAO, pretty sneaky and stealth at highway robbery.
Market hysteria will soon turn to deep depression.
The PPT, Fed, Treasury Ponzi scheme will collapse,
today, tomorrow, next week, it's homeward bound.
Anonymous Coward
User ID: 338377
United States
03/19/2008 01:41 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
They(The Fed) just enter electronic digits into their computers in any amount they wish, to create money
effectively "out of thin air" by creating "credit".

Then all the dollars we own are immediately devalued.

We need to elect Ron Paul to the Presidency .
He will abolish the Federal Reserve, and return our
currency to an asset-backed currency , like America had before 1913.Then we can be prosperous again, without
these "moneychangers" bleeding us dry.
astrolabe
User ID: 395319
United States
03/19/2008 01:47 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
bump bumpPin, please.
Anonymous Coward
User ID: 395349
Spain
03/19/2008 03:53 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Anyone know where the Fed is getting the Stash-O-Cash for the “lending windows” etc.? There is no extra $700-800Billion just laying around the Gov for a rainy day. I know they are trading Treasury notes for poorly collateralized mortgage paper. But are they boosting the treasuries from Social Security or are they floating bonds? And if bonds, who the hell is buying them? Basically, where is the Gov accounting for this expenditure?
 Quoting: For What It's Worth 394988



A very very salient question.
Anonymous Coward
User ID: 368888
United States
03/19/2008 04:13 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
bump bumpPin, please.
 Quoting: astrolabe 395319



Agree
Funny Money
User ID: 395368
Japan
03/19/2008 05:19 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Actually it is genuine MONOPOLY money!
For What It's Worth
User ID: 395453
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03/19/2008 08:38 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Wilber Ross was on CNBC this morning and said they are borrowing the funds for an arbitrage play. So they are either lying about needing the money or they are arbitraging US tax dollars for a profit instead of using the cash to provide liquidity to the system. Anyone else but me have a fundamental problem with this?

“Reality is all a figment of Wall Streets imagination. The rest of us don't count.”
Asinine

User ID: 287311
United States
03/19/2008 09:32 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Did you hear? Chocolate rations got increased to 20 grams! All hail Big Brother!
"It is surprising that supposedly intelligent people can make such asinine statements." -Definition of Asinine, www.Dictionary.com

It's all a farce; and, the joke is on all of us.
kat

User ID: 280901
United States
03/19/2008 09:33 AM
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Re: Lehman and Goldman Sachs Borrow $$ from the Fed after hours
Actually it is genuine MONOPOLY money!
 Quoting: Funny Money 395368

Oh, so true.
No good deed goes unpunished.





GLP