This is starting to get a little scary Page 3

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  • Chopsen 15 Sep 2008 10:05:23 15,998 posts
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    mcmonkeyplc wrote:
    The title and the first few posts suggest people are thinking the end of the world is neigh!

    Mr Ed?
  • Merlinho 15 Sep 2008 10:06:58 5,909 posts
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    Chopsen wrote:
    mcmonkeyplc wrote:
    The title and the first few posts suggest people are thinking the end of the world is neigh!

    Mr Ed?

    :D
  • JDub 15 Sep 2008 10:09:10 1,290 posts
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    Funnily enough, one of my very good mates works for them - Apparently last Thursday, a bunch of them went out for a 'farewell to Lehmans' drink. I think they knew it was over even then...
  • Merlinho 15 Sep 2008 10:11:43 5,909 posts
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    Ouch. My previous comment was only made in jest by the way, just in case taken the wrong way. Except for the part about them being far too busy to post here.
  • Vice.Destroyer 15 Sep 2008 10:11:54 5,836 posts
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    mcmonkeyplc wrote:
    Vice.Destroyer wrote:
    mcmonkeyplc wrote:
    CALM THE FUCK DOWN!

    Yes it's probably the biggest bank to fail for a long time but it's needed as a signal to the markets that they need to start behaving. Just because they are a certain size does not mean banks are exempt from risks.

    This will create a domino effect but we dont know how big. There is really no use in panicing about this.

    Nobody here is panicking. Just commiserating at a huge chunk of the workforce who won't have paychecks.

    The title and the first few posts suggest people are thinking the end of the world is neigh!

    Losing your income is scary. Read the first few posts again.
  • Deleted user 15 September 2008 10:13:58
    JDub wrote:
    Funnily enough, one of my very good mates works for them - Apparently last Thursday, a bunch of them went out for a 'farewell to Lehmans' drink. I think they knew it was over even then...

    Yeah must suck to be a Lehmans employee right now - tough to find new work in that sector at the moment I'd imagine.
  • Chopsen 15 Sep 2008 10:16:53 15,998 posts
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    HoadTheFoul wrote:
    I work for Lehman, been asked to come in as normal tomorrow but exepcting them to come up to the floor any moment and kick everyone out. Will be bringing a big bag as I have a load of personal stuff at my desk.

    Looks like they'll be no redundancy and no guarantee we'll get paid for the last few weeks. Only been there for 6 months after been asked by my former boss to move with him from UBS.... typical.

    Don't think for a minute things like this only affect a relatively affluent few, I'm certainly not wealthy and have a large mortgage and 2 kids... guess I'll have to look for something else, but given the markets at the moment, I'm pretty much relying on contacts to try and get something.

    For those that might have missed this on the last page.

    :(
  • Merlinho 15 Sep 2008 10:23:40 5,909 posts
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    Oh whoops, now I feel silly, sorry HoadTheFoul.
  • Deleted user 15 September 2008 10:24:08
    HoadTheFoul wrote:
    Looks like they'll be no redundancy and no guarantee we'll get paid for the last few weeks.

    That really really sucks.
  • Load_2.0 15 Sep 2008 10:25:25 19,279 posts
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    My CV.

    Airline recruitment 3 years.
    Financial Grad recruitment 4 years

    Future isn't looking particularly rosy.
  • Load_2.0 15 Sep 2008 10:27:08 19,279 posts
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    Not that bad in comparison to the earlier poster. Sorry to hear that HoadTheFoul. That sucks.
  • Merlinho 15 Sep 2008 10:34:41 5,909 posts
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    Load "$" wrote:
    My CV.

    Airline recruitment 3 years.
    Financial Grad recruitment 4 years

    Future isn't looking particularly rosy.

    Are you the guy who rings me (recently qualified ACA) up all the time offering "great opportunities in industry", but only in London?
  • Load_2.0 15 Sep 2008 10:37:44 19,279 posts
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    Merlinho wrote:
    Load "$" wrote:
    My CV.

    Airline recruitment 3 years.
    Financial Grad recruitment 4 years

    Future isn't looking particularly rosy.

    Are you the guy who rings me (recently qualified ACA) up all the time offering "great opportunities in industry", but only in London?

    I have people to do the ringing for me. But while we are on the subject...

    Nah I bug software engineers and QA's these days.
  • LeoliansBro 15 Sep 2008 10:43:33 44,246 posts
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    I used to get phonecalls all the time when I just got my ACA. I actually took one of them up on my offer when I wanted to move jobs. The interview went something like this.

    Me:

    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.

    Him:

    We've got this one position which looks ideal for you. It's in internal audit...

    Me:

    NGNNNGNGGG

    Him:

    ...or this other excellent opportunity in Group Accounting?

    Me:

    /turns green, jumps through wall.


    True story.

    LB, you really are a massive geek.

  • brokenkey 15 Sep 2008 10:44:22 7,033 posts
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    JDub wrote:
    Funnily enough, one of my very good mates works for them - Apparently last Thursday, a bunch of them went out for a 'farewell to Lehmans' drink. I think they knew it was over even then...

    Of course they did - the funded the drinks by selling their Lehamns shares short. Laughing all the way to their next bank.

    3DS 3497-0122-1484
    XBL/PSN/NNID: CptnBrokenkey

  • Tonka 15 Sep 2008 10:49:16 20,432 posts
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    urban wrote:
    tbh i think this is all for the greater good.

    freedom.


    Spoken quietly: "Anger is a gift"

    Yeeeaaahhhh!
    Uggh!
    Awww, bring that shit in!
    Uggh!
    Hey!

    Freedom...yea...
    Freedom...yea right...
    Freedom...yeeeaaahhh!
    Freedom!
    Yeeeaaahhh!
    Freedom!
    Yea right!
    Freedom!
    Yeeeaaahhh!
    Freedom!
    Yea!
    Right!

    If you can read this you really need to fiddle with your forum settings.

  • mcmonkeyplc 15 Sep 2008 10:50:44 39,457 posts
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    Loss of income is very scary, but general public panic is not called for...yet. It does suck for those that work for Lehman Brothers and people in the financial services sector but all industries go through this. In the long term it's healthy to get rid of the dead wood.

    I know that sounds like un-emotional economics and that is what it is. I too feel the pressure and fear losing my job. These things do happen though and it will happen again.

    Sorry if I offended anyone.

    Come and get it cumslingers!

  • Rizo 15 Sep 2008 10:51:24 875 posts
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    If anyone does want to make a quick few quid buy EURUSD.
  • mcmonkeyplc 15 Sep 2008 10:54:03 39,457 posts
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    EUR or USD? I didn't know they'd merged them both :)

    Come and get it cumslingers!

  • Merlinho 15 Sep 2008 10:58:06 5,909 posts
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    Leolian'sBro wrote:
    I used to get phonecalls all the time when I just got my ACA. I actually took one of them up on my offer when I wanted to move jobs. The interview went something like this.

    Me:

    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.
    I don't want anything in Internal Audit.
    I don't want anything in Group Accounting.

    Him:

    We've got this one position which looks ideal for you. It's in internal audit...

    Me:

    NGNNNGNGGG

    Him:

    ...or this other excellent opportunity in Group Accounting?

    Me:

    /turns green, jumps through wall.


    True story.

    One guy phoned me the other day, said his first name without saying what company he was from, as if I should know him..and then asked me if I'd got "pissed" on the weekend. Good first impressions there.
  • figgis 15 Sep 2008 11:05:40 7,376 posts
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    Aspic wrote:
    lavalant wrote:
    Aspic wrote:
    IFor a "capitalism is all" system of government, the US is proving heart-warmingly socialistic.

    capitalism is a class system = dog eat dog, this is just the working class tax payer getting screwed by the super rich.

    Even though they caused the credit crunch, somehow I don't think the upper classes will be in the dole queue anytime soon.

    Very true. And at its heart the US has never really been that capitalist, unless it suited the US economy. Look at the protectionism over steel a couple of years back. Trade unions would have cried tears of pride over that one.

    Quite right the US would shame British Leyland in the 1970's for protectionist, union controlled, backwards working practices.Constuction in New Jersey is exactly as shown in the Soprano's. The US will suffer much worse than the rest of the world, but with the Global economy we are all in the same boat.
  • Jeepers 15 Sep 2008 11:27:12 13,181 posts
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    mcmonkeyplc wrote:
    Loss of income is very scary, but general public panic is not called for...yet. It does suck for those that work for Lehman Brothers and people in the financial services sector but all industries go through this. In the long term it's healthy to get rid of the dead wood.

    I know that sounds like un-emotional economics and that is what it is. I too feel the pressure and fear losing my job. These things do happen though and it will happen again.

    Sorry if I offended anyone.

    Panic is never called for - but when you have hoary old figures like Greenspan saying this is the worst turmoil in living memory, it's a cause for a slight trembling of the lip.

    And I don't think you can say that the direct effects of this collapse are limited to those in the financial services - the financial services are the markets that keep industry moving. If they seize up, the repercussions for any business that relies on debt to grow (or survive) are major.

    Altho' I agree in some respect - the US govt shouldn't (can't?) attempt to prop these markets up. Short-term pain is better than long-term misery, and in this case, the US has been right (imo) to drop Lehmann's and cage-off Merril. Now we have to see whether they have to do the same for Morgan Stanley, Goldmann, etc.
  • Lepperman 15 Sep 2008 12:05:53 252 posts
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    Anyone got any thoughts on Deutsche Bank? I'm thinking of taking a job with them (they've offered but I haven't signed yet). They seem to be one of the more robust big banks, but it is a bit worrying...
  • Salaman 15 Sep 2008 12:08:18 19,066 posts
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    I think they were also in some trouble with big losses last year. All the major German banks were. Not heard anything negative in a while though.
  • mcmonkeyplc 15 Sep 2008 12:11:29 39,457 posts
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    Jeepers wrote:
    mcmonkeyplc wrote:
    Loss of income is very scary, but general public panic is not called for...yet. It does suck for those that work for Lehman Brothers and people in the financial services sector but all industries go through this. In the long term it's healthy to get rid of the dead wood.

    I know that sounds like un-emotional economics and that is what it is. I too feel the pressure and fear losing my job. These things do happen though and it will happen again.

    Sorry if I offended anyone.

    Panic is never called for - but when you have hoary old figures like Greenspan saying this is the worst turmoil in living memory, it's a cause for a slight trembling of the lip.

    And I don't think you can say that the direct effects of this collapse are limited to those in the financial services - the financial services are the markets that keep industry moving. If they seize up, the repercussions for any business that relies on debt to grow (or survive) are major.

    Altho' I agree in some respect - the US govt shouldn't (can't?) attempt to prop these markets up. Short-term pain is better than long-term misery, and in this case, the US has been right (imo) to drop Lehmann's and cage-off Merril. Now we have to see whether they have to do the same for Morgan Stanley, Goldmann, etc.

    Oh I agree completly about this effecting other industries too. Hence why I fear for my job too. I guess I dont think there is any point in getting shit scared because this was bound to happen at some point during our lives.

    Come and get it cumslingers!

  • PES_Fanboy 15 Sep 2008 12:14:08 15,993 posts
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    I heard there was panic in the streets of London over this.

    Also panic in the streets of Birmingham.

    Makes me wonder to myself

    Could life ever be sane again?

    /smacks arse with bunch of flowers
  • TheBear 15 Sep 2008 12:14:18 4,513 posts
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    Blimey, HBOS shares are in freefall.
  • Lutz 15 Sep 2008 12:16:57 48,854 posts
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    They were doing well last week, up about 11% IIRC.
  • Lutz 15 Sep 2008 12:18:29 48,854 posts
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    Um... FTSE100 has lost 250 since this morning... is that normal?

    Where are you watching share prices Mr Bear?

    Edit:

    HBOS down 35%
    Barclays down 19%
    RBS down 16.5%
    ENT.INNS down 11.3%
    ICAP down 11.2%

    (Dunno who the last two are)
  • BanjoMan 15 Sep 2008 12:20:11 13,730 posts
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    Mr Bear? His UID's 'TheBear'. Are you being extra polite today Lutz? If so, please address me as 'Mr BanjoMan'.

    PSN: BanjoFett
    XBL: Banjo Fett

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