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There's just nothing quite like capitalism

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HK

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First recorded activity by BoatBanter: May 2007

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There's just nothing quite like capitalism

wrote:
On Wed, 30 Jan 2008 09:30:17 -0500, JimH wrote:

He promptly blamed the lender as he said he did not know what an ARM
was. Doh!

Summary of sub-prime write-downs in Q4
UBS $13.7 bln
Citigroup $13.7 bln
Morgan Stanley $10.3 bln
Merrill Lynch $8.4 bln
HSBC $3.4 bln
Bank of America $3.3 bln
Deutsche Bank $3.1 bln
Barclays $2.7 bln
Royal Bank of Scotland $2.6 bln
Credit Agricole $2.3 bln
Bear Stearns $1.9 bln
Credit Suisse $1.9 bln
JP Morgan Chase $1.6 bln
Goldman Sachs $1.5 bln
Wachovia Bank $1.1 bln
Lehman Brothers $0.8 bln
SunTrust Bank $0.6 bln
Total: $72,900,000,000 and counting!

I guess the lender didn't know what an ARM was either.

Why should the execs worry with their golden parachutes?

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