Nightmare on wall street:

"Wailing Wall" street
"Brick by Brick comes the wall street down"..

Possible headliners for mid day newspapers in US?? Could be.

The earth has shaken and the big t(h)ree has fallen. The dust is still settling down and god knows how many more are going to bite the bankruptcy bullet. Lehmann Brothers and Meryll lynch go the Bear Stearns way - towards extinction. While Meryll lynch might survive as an underdog of Bank of America, Bear Stearns being already gobbled up by Morgan Stanley many expected Lehmann Bro to ride out the storm, with the hope of Barkley's doing the rescue act this time, in vain. The same Lehmann firm was in news last year, for paying top bill (1 crore plus) for an IIM graduate sparking off debates in India.

Guess, after 7 years, its sep 11 all over again in US, only that the venue is different this time. Another biggie by the name AIG (American Insurers Group) is also reported tottering at the brink. Will the Feds do anything to save it is a question which would've answered by this time next week. Maybe US Fin market is becoming seasonal? They had a "Spring" time a while back and the moment republicans took over its "Autumn" and "Fall" season now!!

Bharathiyar songla vara
"Imaya charalil oruvan iruminan
kumari vaazhbavan marunthu kondodinan" mathiri

US marketla kuliradicha namma oor sensexa izhuthu moodidranga. Erkanavay irangu mugathula irunthathu ipo sarukitu oduthu. Lehman bro, ML, BOA elathukumay India based operations/back office iruku. Wonder how much would be the impact here.

Thalaivar paatula vara mari..intha sensex, share market, stocks ellaamay "Maayaa maaya" than pola.

Comments

R-ambam said…
ithu mattumaa... ellame maaya thaan!
mgnithi said…
Meryll and Lehman were a surprise to me. AIG was a shock. just thinking about the investors who bought AIG'S shares a week ago.. It has fallen by more than 75%..

The impacts are very much visible in India. The original news was that ICICI had exposure in lehman and could suffer some loss. But news in some parts of tamilnadu was that ICICI is bankrupt and suddenly people started crowding up in front of ATMS.
Karthik B.S. said…
inna koduma idhu.. already 25,000 jobs cut aagum nu predictions.. thaliala thundu potutu poga vendiyadhu dhaan nu ninaikren.
mgnithi said…
//Thalaivar paatula vara mari..intha sensex, share market, stocks ellaamay "Maayaa maaya" than pola.//

BTW who is that Maayaa?
mgnithi said…
they are using this financial instability as part of Obama's campaign stating that they would clear this mess once they are into power. politicians ella oorlayum ore maathri thaan irupaanga pola..
Harish said…
Guess we cant do anything. US is like global market and the whole world is dependent on their economy. They r the consumers and hence "avanku jaladosham pidicha nama ellarum mooku sindhi daan aaganum"

Btw...ur prev Sujata type post was too good. I have read that infinite loop story and urs was equally good.

Kelapareenga ponga :)
gils said…
@rambam:
saria sonnel :)

@divs:
:)

@NIDHI:
NAMMA oorla nalla nalulaye vadanthi kelapi uduvanga..ipo kekauma..

who is mayava!!! neenga Gurula mallika sherawata pakalaya!! :D
gils said…
@BSK:
ejjatly :(

@nidhi:
ada neenga vera..nuclear dealukay religious paint adicha namma oor makkalavidava...politicians elamay oray breed thaan pola

@mugamudi:
//avanku jaladosham pidicha nama ellarum mooku sindhi daan aaganum"//
nalla analogy :)
//ur prev Sujata type post was too good. I have read that infinite loop story and urs was equally good.
//
nandri hai :)
Sat said…
well, these dramatic changes fuelled a lot of rumours and guesses from right left and centre. Layoffs, more banks feeling the pinch and what not, but then crowding up in front of icici to take ur money out...ahem...sometimes Indians do over do things! BTW, another pretty huge brand to have dissolved in an effort to stay afloat was HBOS, Halifax bank of scotland which was taken over by Lyods TSB. this happened in UK later in the historical week. Million dollar question though is, looking at what caused the meltdown at wall street, would this happen in India in near future? would we soon be have the sub prime looking down on us...Coz we too have mortgages and loans being given without much verifications and credit rating checks as of now. A slump in real estate / IT bubble burst is the thing that would perhaps leave us too at the middle of another crumble closer home.
Anyway, the events of the big week were pretty personal for me (bye bye Merrill!)...though expected.
Sat said…
BTW, AIG is safe, and 10 banks of wall street (Merrill and BOFA included) have contributed to a 70 bn dollar fund to save more instis and the market. Though AIG did not get much from it, it was saved by fed, this might cushion the fall for many. Likewise back home and world over, regulatory banking bodies have pumped monies into market to help it limp back...and it seems to be doing the trick. It would take time, but things will be back on track and we will be staring into the next boom, it has always been like that, one period of recession followed by golden times.
Sat said…
BTW latest news....the micham irukura investment banks, goldman sachs and morgan stanley are also entering Core banking...
gils said…
//but then crowding up in front of icici to take ur money out...ahem...sometimes Indians do over do things!//
yup..other banks are big time into fuelling this scare..icici divaal adichi..anga irukara FDlam ipovay eduthu inga potrungannu opena soli kekarangalam..nethu pathi atm bankrupt!! en friend card vera machinela matikichi :D poata panatha than eduka mudilana card kudavanu polambita call log pannan :D
gils said…
//A slump in real estate / IT bubble burst is the thing that would perhaps leave us too at the middle of another crumble closer home.
//

enakenamo real estate slumpna namma oorla affect agathu thonuthu..unlike US..namma oorla elam big time savers..n less of spenders..so land depreciate aguthuna..home loan poatu thaaki veedu vanga thana try panuvanga..aan IT oothikichina..mothamum sangu than
gils said…
//It would take time, but things will be back on track and we will be staring into the next boom, it has always been like that, one period of recession followed by golden times.//

if its winter..can spring be far behind?? :))
gils said…
//the micham irukura investment banks, goldman sachs and morgan stanley are also entering Core banking...//

s..kaamedi enana...iniki timesla front page newsa investment banking vs normal baning comparison potruthan..adhula investment bnkinga naar naara kilichings..they are quesioning the very foundation of invesment banking..concptay thappunu solitanga

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