Gary Millichip

Hemispherx Biopharma: Hot and Likely to Get Hotter

raytayzmd, you might to take into account recent offerings of 18.3 million (finance.yahoo.com/news...) & 16 million (finance.yahoo.com/news...)

Hemispherx Biopharma: Hot and Likely to Get Hotter

Here's another link mentioning HEB: www.sprintlazio.it/pha...

Hemispherx Biopharma: Hot and Likely to Get Hotter

Here's the link for the conference:

www.zangani.com/node/3171

Disney: Mickey Mouse Accounting

Did you forget that there is value attached to these broadcasting rights that would also be brought onto the balance sheet if the debt was brought on? Simple matching principle.

AIG Is Toast

turn tail that is!

AIG Is Toast

Very true Felix. And I'm just waiting for Paulson to turn tale and save AIG because of the "systemic" risk involved. Well, you know what my friend Paulson - if you had saved Lehman, we would not be in this position today!

Lehman's Bankruptcy Creates Systemic Risk

Great piece Edward! With news that the Government is getting ready to bailout AIG, is there a chance that Lehman would now be entitled to a bailout too?

Debating the Lehman Collapse

Very well put gramps2. But as you said many other banks are probably insolvent too. So something has to be done this weekend or the house of cards will come tumbling down. I like the idea of all banks spinning off dubious assets into a "SpinCo" to which they would then provide liquidity to run itself off. This way the focus will be back on core earnings and nothing else. I'm not sure what punishment should be given to financial institutions for their recklessness but let's stabilize things now.

Debating the Lehman Collapse

Gramps2, you missed my point. Lehman's books state the company is solvent. If Lehman is allowed to fail on top of Bear whose books also indicated they were solvent, then no one will believe the numbers of the remaining financial institutions and thus where would the madness end? I believe the accounting standards at to blame for this. When it comes to assets, they should be carried at amortized cost except where impaired and then should be written down. That way there are no fake profits until realized, directors don't get paid absurd bonuses based on paper profits, and we will truly know how liquid a company actually is. Confidence will be restored in the financial sector. However, the only way to restore this confidence now is to save Lehman.

Debating the Lehman Collapse

I agree that a lot of what Lehman is facing could have been prevented had Lehman been more transparent regarding their numbers. Keeping shareholders in the loop with developments would also have been a good idea instead of the long periods of silence.

However, if Lehman is to fail which looks very likely, then the SEC/Fed/Shareholders are effectively condoning irrational activity based on pure speculation. Financial statements indicate the company is solvent. Auditors have signed off on these statements. So there is no logical reason to explain the massive drop in the share price which in turn has caused rating agencies to place Lehman under immense pressure to do a deal. This is turn results in less value placed on Lehman's assets from a fire-sale perspective.

One can only hope a third party other then BAC/Barclays sees the inherent value in Lehman and invests in Lehman to pull them through. This will kill off all those that brought down the share price in anticipation of failure and will indicate that the market does not appreciate illogical activity like this. Otherwise where will the madness end?