Lehman Likely to File for Bankruptcy Protection
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PostPosted: Sun, Sep 14 2008, 7:33 pm EDT    Post subject: Lehman Likely to File for Bankruptcy Protection Reply with quote

According to CNBC, Lehman Likely to File for Bankruptcy Protection.

Merrill in Merger Talks with Bank of America.

http://www.cnbc.com/
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PostPosted: Sun, Sep 14 2008, 9:16 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Merrill Agrees to Be Sold To BofA for $29 a Share.

http://www.cnbc.com/id/26708319

Lehman Brothers Plans to File for Bankruptcy Shortly
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PostPosted: Sun, Sep 14 2008, 9:24 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Wow, MBNA was bought by BOA and now Merrill.
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HistoricallyFiscal
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PostPosted: Mon, Sep 15 2008, 12:36 am EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Times are very bad my friends.

Ten banks -- Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley and UBS -- each agreed to provide $7 billion "to help enhance liquidity and mitigate the unprecedented volatility and other challenges affecting global equity and debt markets."


Futures are down over 300 its going to be a black monday folks.
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Cranbury Conservative



Joined: Tue, Apr 29 2008, 9:26 am EDT
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Location: Old Cranbury Road

PostPosted: Mon, Sep 15 2008, 8:16 am EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Sunday, September 14, 2008

NEW JERSEY COULD LOSE ANOTHER $60 MILLION IN LEHMAN BROTHERS GAMBLE

As I posted this past Friday on the Save Jersey Blog New Jersey’s Pension fund has recently reported $50 million dollars in losses from investments it has made in Lehman Brothers.

Now with various news sources reporting Lehman Brothers pending bankruptcy,New Jersey stands to have another $60 million dollars in losses due to bad investments made in Lehman.


The original Save Jersey Post can be found at (With our Assemblywomen Linda Greenstein's Comments on the issue):
http://blog.savejersey.com/2008/09/12/50000000-in-losses-for-the-new-jersey-state-employees-pension-fund-on-lehman-brothers-gamble.aspx

My Blog:
http://cranburyconservative.blogspot.com/2008/09/new-jersey-could-lose-another-60.html
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PostPosted: Mon, Sep 15 2008, 8:39 am EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

“This is not money people are putting aside and saying they will take a risk with. This is money that people want to be very conservative with,'' she said. ``When you're managing a pension fund, it's people's life savings.”

Okay, we're talking about the Dems being concerned for people's welfare on another post here. And historically the Dems have been known as the party for the people looking out for the little guy.

So why is it that Linda in her role and with her power isn't screaming bloody murder. A similar issue happened in NY state not too long ago and the Dems rightfully so went on the attack about mismanagement in the system. Why is it that the Dems in NY State seem to be more in tune with the concerns of the people than those in NJ? They'll focus on COAH and get outraged about that, but lose 50-60 mill and we'll say it's a shame NJ shouldn't have taken risks, oh well, oops our bad, move on.
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Cranbury Conservative



Joined: Tue, Apr 29 2008, 9:26 am EDT
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PostPosted: Mon, Sep 15 2008, 8:59 am EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Yes this is another example of our Assemblywomen Linda Greenstein putting party politics ahead of what is right for the people she represents in our legislative district.

Assemblywomen Greenstein would rather be careful about what she says regarding the State taking a massive loss in a risky Lehman Brothers investment since she does not want to upset the leaders of her party in charge of Trenton. Not upsetting the leadership of her Party was Assemblywomen Greenstein’s argument for not voting to support Cranbury and the other municipalities in her district against the unfair Affordable Housing legislation which was passed and threatens to negatively impact many communities in her district.

Our Assemblywomen Linda Greenstein has not made one public comment in support of Cranbury or the other municipalities in her district which are being adversely impacted by COAH and the new Affordable Housing regulations.

Linda Greenstein our Assemblywomen comes to our town meetings and says she cares and that she understands our concerns, yet what has she done to help us here in Cranbury?

Hopefully everyone will start to realize Assemblywomen Greenstein is wrong for Cranbury as well as the other municipalities in her legislative district and we should consider another choice for her seat next year.

Assemblywomen Greenstein is playing partisan party politics and has an agenda which does not include our best interest.
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PostPosted: Mon, Sep 15 2008, 12:12 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

This Greenstein bashing is becoming tiring...
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PostPosted: Mon, Sep 15 2008, 12:41 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Guest wrote:
This Greenstein bashing is becoming tiring...


Not to me. I applaud it. Keep it coming. We need to keep making noise about our political representatives until they either do their jobs and actually represent our interests, rather than their political machine's, or until we can raise enough attention to cause their replacement with people who have the clear public mandate to represent us. Plus we need to offset the disgusting bowing and scraping done by our TC Democrats (I say this as a Democrat) who continue to heap public praise on her simply because she didn't actively oppose our interests, despite doing nothing to help us.
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James



Joined: Mon, Apr 21 2008, 4:10 pm EDT
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Location: South Main Street

PostPosted: Mon, Sep 15 2008, 1:07 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

It's only bashing if you agree with what she has done on the issue at hand.

Why would we not want to hold Linda accountable for her actions and statements? Do you think people would be bashing her if she said she found it highly problematic that so much money was in the hands of Lehman brothers and that she wanted to open an investigation into the investment policies? Do you think people would be complaining if she spoke up in Trenton and voted no for COAH?

Is she better than Wayne, yes multiple times. However, she is still not serving the interests of her voters. So long as a poltician sees that they are not accountable they will continue to act however they want to act.

At somepoint our politicans switched from being people who needed to cater to and work for the people to celebrity types who feel and expect the voters to cater to them. They get upset when people express displeasure and get defensive when they are questioned about votes or policies they implement.
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PostPosted: Mon, Sep 15 2008, 1:18 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Cranbury Conservative wrote:
Yes this is another example of our Assemblywomen Linda Greenstein putting party politics ahead of what is right for the people she represents in our legislative district.

Assemblywomen Greenstein would rather be careful about what she says regarding the State taking a massive loss in a risky Lehman Brothers investment since she does not want to upset the leaders of her party in charge of Trenton. Not upsetting the leadership of her Party was Assemblywomen Greenstein’s argument for not voting to support Cranbury and the other municipalities in her district against the unfair Affordable Housing legislation which was passed and threatens to negatively impact many communities in her district.

Our Assemblywomen Linda Greenstein has not made one public comment in support of Cranbury or the other municipalities in her district which are being adversely impacted by COAH and the new Affordable Housing regulations.

Linda Greenstein our Assemblywomen comes to our town meetings and says she cares and that she understands our concerns, yet what has she done to help us here in Cranbury?

Hopefully everyone will start to realize Assemblywomen Greenstein is wrong for Cranbury as well as the other municipalities in her legislative district and we should consider another choice for her seat next year.

Assemblywomen Greenstein is playing partisan party politics and has an agenda which does not include our best interest.


I urge you to be very careful - she is currently our representative and we need her right now to a fan of Cranbury not an enemy. You are walking a very thin line. Let's not piss her off but help her help us. Every Cranburian whether they are a democrat, republican, or independant know the horrible impact COAH will have on Cranbury. We need to use all our resources. I know you don't like her, but let's move on before she turns her back on us.
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Cranbury Conservative



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PostPosted: Mon, Sep 15 2008, 1:46 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

I see nothing wrong with being critical of a politician who has done nothing for us to date. Can you provide some tangible evidence of something she is has done or will be done imminently?

All of us would be more then happy to give credit where credit is due, however to date only criticism is deserved for our Assemblywomen.
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PostPosted: Mon, Sep 15 2008, 2:44 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Guest wrote:
I urge you to be very careful - she is currently our representative and we need her right now to a fan of Cranbury not an enemy. You are walking a very thin line. Let's not piss her off but help her help us. Every Cranburian whether they are a democrat, republican, or independant know the horrible impact COAH will have on Cranbury. We need to use all our resources. I know you don't like her, but let's move on before she turns her back on us.

People have made the same mistake you are advocating for thousands of years in various situations and history keeps proving them wrong. It is tragic indeed if you believe we are so helpless that we need to desperately fool ourselves into believing that the best course of action is to cling to support that does not exist. Clever politicians and despots have long quelled weak citizenry by convincing them it is better to cooperate even has they gradually demonstrate actions completely contrary to their interests until eventually it is too late to matter.

I have heard the arguments that Linda Greenstein is our best hope and we need her over and over and never once has anyone presented any real proof that she is actually helping us or even that her past actions demonstrate she will. Sure she shows up and our meetings, parades and festivals. And she always tries to say the right thing and throw empty words of support at the locals. But when has she taken any concrete action, on any issue, when it is against the wishes of the Democratic power base she seems to believe she owes her job to rather than us? Name a case where she voted against Roberts on an issue that helped us? Go for it. Abstaining doesn’t count. Maybe you can use the abstaining argument once or twice if there is a pattern of following it up with visible concrete results on our behalf either in the form of favorable amendments on issues or later reversals or other examples of votes that favored us when it counted. But if her response, at best, is to not vote rather than offend Roberts or us as if she represents both parties, and to never stand up to Roberts, that is USELESS.

WAKE UP. She is not helping. She has represented us for years and none of her supporters or those who urge us not to alienate her can come up with any way she has helped us. So unless you can, you are truly foolish to keep advocating we “walk the fine line” and the sensible people will disregard your bad advise. We need to be doing the opposite. We need to be demonstrating complete intolerance for any representative whose actions or inaction run so starkly contrary to our interests as a Township. More, not less outrage.
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James



Joined: Mon, Apr 21 2008, 4:10 pm EDT
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PostPosted: Mon, Sep 15 2008, 3:19 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

Here is what I see, Linda is going to let the courts settle this. With a reelection next year anything else is too risky for her with Roberts. And she has convinced people that they need to support her and vote for her because they have been ingrained to think this way about politicans.

I agree we have to be civilized toward her in our interactions, but we have to hold her accounatble. The time to be her best friend and cozy up to her really passed when she first refused to amend the bill and then refused to vote on our side. There is no way she'd risk the political wrath now to amend legislation that has already been approved. That would be suicidal for her. However, blatantly telling us this would annoy us because so long as voters have hope they keep in step. Once hope is gone then they become angry voters and they vote the person out of office. If that hope remains then enough people will remain thinking she's on our side.
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PostPosted: Mon, Sep 15 2008, 4:08 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

James wrote:
Here is what I see, Linda is going to let the courts settle this. With a reelection next year anything else is too risky for her with Roberts. And she has convinced people that they need to support her and vote for her because they have been ingrained to think this way about politicans.

I agree we have to be civilized toward her in our interactions, but we have to hold her accounatble. The time to be her best friend and cozy up to her really passed when she first refused to amend the bill and then refused to vote on our side. There is no way she'd risk the political wrath now to amend legislation that has already been approved. That would be suicidal for her. However, blatantly telling us this would annoy us because so long as voters have hope they keep in step. Once hope is gone then they become angry voters and they vote the person out of office. If that hope remains then enough people will remain thinking she's on our side.


Let's face it, Cranbury will have no choice but to take this to court. But, No one every said to be her best friend, just help her to help us. You've made your points several times about your dislike of Greenstein, especially about her obstension vote on A500. I'm tired of hearing the same old thing "she should stand up to Roberts". It's just the same as you should stand up to your CEO and tell them how badly he/she is doing. How far do you think that will get you?

Now, Trenton is back from their Hiatus. Frankly, She does not have enough power and backing to make a huge difference. But, now the tides have been turning by different agreements and negotiations with individual towns (which she is viewing and also working on ammendments to help us with the COAH). We only have a small window (the end of Dec) to make huge strides. Afterall, Clinton Township lawsuit is probably out of the picture. We need her and Wayne DeAngelo.

Speaking of Wayne - I also find it interesting that you only attack Greenstein. What about Wayne DeAngelo - he voted YES on the A500. You should be irate.

Perhaps we are thinking too small. Look what Clinton Township accomplished by agressively pushing their Highlands Master Plan that was placed in front of Corzine and approved last week. Corzine stated that COAH is to take a back seat to the Highlands Act.

We need to focus, move actively forward and not bash people that are on our side. We need to use them where we can. I'm not asking you to love them or be their best friend - just to keep focussed on the common goal.
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PostPosted: Mon, Sep 15 2008, 4:46 pm EDT    Post subject: Re: Lehman Likely to File for Bankruptcy Protection Reply with quote

I agree with above post. Unless she does something bad to Cranbury again in the near future, keeping repeating her COAH vote is not very productive and may become annoying.
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