It's sad , sad day when Wall St, is exported to England

[kaydee457 13]

Comments?

[w¡n9Nµ7 §£@¥€r 123]

Barclay's is English in name only. They're an international firm, in every sense that matters.

[bakofoil 27]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

[kaydee457 13]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

[akdiver 3]

What's sad about it?

[w¡n9Nµ7 §£@¥€r 123]

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

Well, my buddies in the IB business have been saying for years that the worlds financial capital is in London, not NY.

[rebeccajo 14]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

That just doesn't make a lick of sense.

Hell, what difference does it make where the 'mother ship' is anyway. It matters more who the big depositors and the stockholders are. And for ages, LOADS of the money invested in US banks has come from abroad.

[rocks 494]

http://business.timesonline.co.uk/tol/busi...icle4769917.ece

"The acquisition would create the third-largest investment bank in the US"

surely that would be a good thing?

[Pooky 3,930]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

That just doesn't make a lick of sense.

Hell, what difference does it make where the 'mother ship' is anyway. It matters more who the big depositors and the stockholders are. And for ages, LOADS of the money invested in US banks has come from abroad.

Barclays Capital has been growing its operations in the USA for a while now. Acquiring Lehmans gives it a short-cut to where it wants to be as a brand. So I think this is a good day for the US investment banking.

BTW, Lehmans had a sizeable operation in the UK, too. So I really think this Boston Tea Party ####### is uncalled for. There will be job losses in Lehmans UK operations, so, if anything, the Brits are losing out in this deal anyway.

Edited September 17, 2008 by Pooky

[Mr. Big Dog 10,747]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

Yeah, sure. I can just see how they're aching to drive up their operating cost by moving operations to one of the most expensive places on earth.

[rocks 494]

Yeah, sure. I can just see how they're aching to drive up their operating cost by moving operations to one of the most expensive places on earth.

lol exactly

[Trumplestiltskin 5,791]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

Yeah, sure. I can just see how they're aching to drive up their operating cost by moving operations to one of the most expensive places on earth.

Really... London is more expensive than NYC.

It's hardly good news for their folks in London - I suspect those guys are shitting a brick right now

[Mr. Big Dog 10,747]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

Yeah, sure. I can just see how they're aching to drive up their operating cost by moving operations to one of the most expensive places on earth.

Really... London is more expensive than NYC.

It's hardly good news for their folks in London - I suspect those guys are shitting a brick right now

I know it is. We're actively migrating whatever possible away from London.

[kaydee457 13]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

Yeah, sure. I can just see how they're aching to drive up their operating cost by moving operations to one of the most expensive places on earth.

Really... London is more expensive than NYC.

It's hardly good news for their folks in London - I suspect those guys are shitting a brick right now

I know it is. We're actively migrating whatever possible away from London.

To where? Tampa? No comparison to the cost of doing business in NYC, particularly Wall St. and vincinity........

[kaydee457 13]

The bank may have its roots in London but as A.J. said is a major international bank these days. It's managed to stay in business since 1690 so I'd say its a good day for Wall St.

Yes, but the mother ship is based in London......Given that, over time they could migrate all of Lehmans business operations to London. It's been done before with other aquisitions.....especially given the atmosphere here where the democrats, and the replulicans are going to overreact and hog tie Wall St.

I see a move out of the US for investment banking and a loss of a cornerstone sector here in the US.

That just doesn't make a lick of sense.

Hell, what difference does it make where the 'mother ship' is anyway. It matters more who the big depositors and the stockholders are. And for ages, LOADS of the money invested in US banks has come from abroad.

Hmm, what diff? Well loss of tax revenues for one. NYC mayor is already complaining that NYC will be in dire straits in the near future without those revenues.

Jobs for number two (of course integrally linked to number 1), and I'm sure there are others.....

It's kind'a expensive in NYC and so perhaps they'll export some of their operations to Singapore, or India, who knows?

They don't need to keep the "brick and mortar" presence at the same levels in the US because they're purchasing the assets of this company.

Perhaps just a cursory presence will do. Only time will tell.......

Mergers and aquisitions always result in duplication of services between the two companies and this will be no different. There will be job losses due to absorbing Lehman, it's just a matter of how many and when.