Awesome column by my BV colleague Mark Gilbert, observing that true ‘Lehman Moments’ must clear certain hurdles — and most that are beinfg termed that simply don’t.
It isn’t a Lehman Moment . . .
• If people are calling it one.
• Unless somewhere in Germany there is a Landesbank up to its neck in trouble.
• If the endangered firm has a friend in its hour of need.
• if the CEO isn’t issuing denials and reassurances, or blaming speculators.
• if it doesn’t contaminate an entire industry.
He concludes that “So far, Lehman is still in a class of its own” — and I agree.
Go read the entire column here.
Source:
True `Lehman Moments’ Must Clear These Hurdles
Mark Gilbert
Bloomberg, October 1, 2015
http://www.bloombergview.com/articles/2015-10-01/becoming-a-lehman-moment-is-harder-than-it-seems
If your maid just bought the condo next to you and put it up for sale twenty percent higher.
Classic picture of Fuld.
Moron.
Delightful–unless the Lehman issue is in China where they’ve been telling us things are great for years…