The Year of Magical Thinking?

if he had a brain, he would have left Lehman before it went under.

Marsal was brought on board after Lehman collapsed to wind down the remaining business. He's a turnaround and restructuring specialist.

cherrywood, if we could equate this market to the 7 stages of grief, I think we are in the bargaining stage right now.

a) I agree wholeheartedly with Marsal
b) I disagree with ord: I think we are somwhere between "SHOCK & DENIAL" and "PAIN & GUILT", although we are seeing a bunch of "ANGER" thrown in, I don't think it's because we've actually graduated to the "ANGER & BARGAINING" stage... people can get angry at any of the 7 stages and often do.

while I am bearish in this market, I find it a bit self serving for the owner of a restructuring firm to be pushing this agenda....

I'm at the phase where all I want to do is sleep and be left alone but, the RE market wants to cuddle.

The worst is behind us. The system still have some residual 'goodies' to digest. In all, recovery have started.

a) I agree wholeheartedly with Marsal

me too. i saw him and there was no agenda. just a description of reality as the guy sees it. whether he is right, only time will tell.

of course he's right. what happened to the famous toxic assets? nothing. they're still there ticking away. when the history of this period is written, everyone will wonder how that fact remained so conveniently ignored so what will seem like a relatively long period of time.

Those toxic asset went down with Lehman and Bear Sterns. The rest continues to sit in the books with massive mark downs.

Again, the road to recovery will be long.....

widespread defaults & bankruptcies (individual and corporate) are just beginning. so far we've only seen subprime and a couple of already bankrupt companies formally go under (like gm).

"The worst is behind us. The system still have some residual 'goodies' to digest. In all, recovery have started."

"Again, the road to recovery will be long....."

hey--are you a speechwriter for geithner? which is it? and don't tell me its both.

The Sub-prime "crisis" was the tip of the iceberg.