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"Banks set to cut 10-15% of staff as markets take toll on revenues"

by pedigreed monkey

(Orangutan, 365

Points) on 8/31/07 at 2:20pm

http://www.ft.com/cms/s/0/17e170ce-575b-11dc-9a3a-0000779fd2ac.html

Think this will make its way to the US? (Want to know if i should start buying up investment bank stocks)

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I-Banking Bullpen

Ha

by junkbondswap

(Gorilla, 628

Points) on 8/31/07 at 2:28pm

Yea if you want exposure to financial firms holding massive amounts of exposed mortgages on their balance sheets because there are no buyers for the paper and they cant wholesale the whole lot then I would say yea go ahead and invest in a few investment banks

I think a lot of banks are only in the beginning stages of pain (even after Bernanke cuts rates by 25 bps Sep 18th)and you might not want to catch falling knives

On the other hand I love GS and JPM at some of these prices but would stay away from Lehman and Bear

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what about MS, duh. yeah i

by pedigreed monkey

(Orangutan, 365

Points) on 8/31/07 at 2:37pm

what about MS, duh.

yeah i dont plan on buying and holding any ibank, im saying as a pure speculative play i would buy a bank before news hits that they are cutting jobs. obviously these are risky companies with a lot of debt and we dont know if we've seen the last of their problems.

everyone keeps talking about Lehman getting screwed. ive read a lot of news about Bear but whats so bad about Lehman?