Welcome to PatsFans.com

N.J. buys $180 million in Lehman shares

Discussion in 'Political Discussion' started by weswelker#83, Sep 12, 2008.

  1. weswelker#83

    weswelker#83 Rookie

    Joined:
    Dec 13, 2007
    Messages:
    4,535
    Likes Received:
    8
    Ratings:
    +8 / 0 / -0

    New Jersey government retirees picked up a $180 million stake in the troubled Lehman Brothers investment firm on june 2008.
    http://www.nj.com/news/index.ssf/2008/06/nj_state_pension_funds_invest.html



    Date: June 9/08
    Trade: 6,428,571 shares of LEH @ $28
    Total cost: $180,000,000
    Date: September 11/08 (90-day M-PIS + 3)
    Stock Price: LEH-$3.80
    Value of Acct: $24,428,569
    Loss: $155,571,431


    They lost $155.5 million of their pensioners funds in 90 days. If they're still holding this POS, they will lose it all! Is there anyone minding the store in NJ?
    These are community organizer kinda folk running these funds.
  2. PatriotsReign

    PatriotsReign Rookie

    Joined:
    Jan 15, 2007
    Messages:
    25,953
    Likes Received:
    92
    Ratings:
    +210 / 3 / -10

    I wonder what kind of idiot would have suggested they add Lehman stock to their investors' portfolio...That makes no sense at all.

    I'm still praying we don't bail them out.
  3. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

    Joined:
    Jan 26, 2005
    Messages:
    5,293
    Likes Received:
    40
    Ratings:
    +97 / 31 / -3

    #75 Jersey

    Maybe the former head of Goldman Sachs, who gave up his 10 million dollar a year job, to run for the Senate, and now sits in the banrupt governor's mansion in New Jersey, maybe???????????
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

    Joined:
    Jan 4, 2005
    Messages:
    24,661
    Likes Received:
    67
    Ratings:
    +130 / 7 / -13



    John Corzine D-NJ ex Goldman Sach CEO and corrupt govenor of NJ takin care of his Wall St boys. ;)
  5. PatriotsReign

    PatriotsReign Rookie

    Joined:
    Jan 15, 2007
    Messages:
    25,953
    Likes Received:
    92
    Ratings:
    +210 / 3 / -10

    You and Ted W may just be right...it is New Jersey after all!:rolleyes:
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

    Joined:
    Jan 4, 2005
    Messages:
    24,661
    Likes Received:
    67
    Ratings:
    +130 / 7 / -13


    Yup the drats run the whole stinking place.

Share This Page

unset ($sidebar_block_show); ?>