Thursday, October 2, 2008
Same mistakes again....someone thinks we have not learnt lessons
It was with great surprise that I read that Nomura the great japanese investment house that has just picked up Lehman Bros Asia and European divisions immediately confirmed to all employees the guarantee of their bonuses for the coming two years !! Assuming therefore that these two parts of the old Lehman brothers business are still happily stuffing someone with more toxic assets and getting their commissions for it. Hopelly Nomura would have learnt from the last japanese property bust that property asset/morgage bundles are still going to be bought by someone !! Or are they saying the Lehman Asia and European fund products are so good that these people can earn great incomes because the products are so fantastic.....watch this space and my recommendation is to beware of the Nomura products coz to me it looks like business as usual....someone will pay.
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