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UK Billionaire loses $800M in Bear Stearns Collapse
03-18-2008, 06:02 AM,
#1
UK Billionaire loses $800M in Bear Stearns Collapse
http://business.timesonline.co.uk/tol/busi...icle3558485.ece

Quote:JOE LEWIS, the secretive British billionaire, has lost an estimated $800m in the collapse of the American investment bank Bear Stearns.

The 71-year-old currency trading tycoon, who runs his empire from the Bahamas, holds almost 10% of the bank's shares. Bear’s shares fell 40% on Friday to $27, after it secured a 28-day credit lifeline to stave off collapse.

Lewis began building a stake in Bear last September, when the shares were changing hands for more than $100.

The huge paper losses could force Lewis to sell out of some of his other positions, according to traders, in order to meet margin calls from his lending banks.

Owned.
The belief in 'coincidence' is the prevalent superstition of the Age of Science.

&I don't understand why you're taking such a belligerant tone when you're obviously the ignorant one here. &
-triplesix
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03-18-2008, 11:19 AM,
#2
UK Billionaire loses $800M in Bear Stearns Collapse
Quote:http://business.timesonline.co.uk/tol/busi...icle3558485.ece

Quote:JOE LEWIS, the secretive British billionaire, has lost an estimated $800m in the collapse of the American investment bank Bear Stearns.

The 71-year-old currency trading tycoon, who runs his empire from the Bahamas, holds almost 10% of the bank's shares. Bear's shares fell 40% on Friday to $27, after it secured a 28-day credit lifeline to stave off collapse.

Lewis began building a stake in Bear last September, when the shares were changing hands for more than $100.

The huge paper losses could force Lewis to sell out of some of his other positions, according to traders, in order to meet margin calls from his lending banks.

Owned.



Yes,maybe owned,on the other hand try this word...FORESIGHT :dead:


Ah, Britain. Where you can be fined for saying 'f..k' in a private conversation. Where every single child will soon be fingerprinted. Where all people will be ordered to carry an I.D. card at all times, to be swiped every time they withdraw a fairly small amount of money from the bank, buy an airline ticket, apply for a fishing license, purchase property, apply for a library card, get a prescription filled, and so on. Where you can be sentenced to 80 hours of community service for wearing the wrong T-shirt. Where having a pen knife in your car can get you arrested. Where being too fat can get you carted off to a mental institution. Where government workers will come to your home to verify you're not using too much electricity, and to note whether or not you smoke. Where all vehicles' whereabouts will soon be monitored by satellite 24/7. Where you'll get fined for using a pencil instead of a pen when filling out a form. Where people are captured by video surveillance cameras some 300 times a day. Where officials tell you how to go to the bathroom.

The government are keeping many secret that are beneficial to humanity.That is to say that what benefits the majority is suppressed or classified as top secret. They are the enemy of the people. We are their slaves they leech off us like a cancer and the only cure is true knowledge or the truth.
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03-22-2008, 08:16 PM,
#3
UK Billionaire loses $800M in Bear Stearns Collapse
He is disputing the buyout. He won't win that round either. never mind, I don't feel really that sorry for him because it's only a 10% stake and he has other shares and companies to fall back on. Others have lost their houses, jobs and their 'lives' in the credit crunch.
&Advertising has these people chasing cars and clothes they don't need.
Generations have been working in jobs they hate, just so they can buy what they don't really need.&
Chuck Palahniuk, Fight Club, Chapter 19
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