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Lehman Brothers? Merrill Lynch? Mom & Pop? Who Would You Bet On?

By Mike Jones

Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

September 14, 2008 05:17 PM

Saguaro ribs on the desert floow

Size and longevity are no guarantee of continued success.

Lehman Brothers has been in existence for nearly a century and a half. Merrill Lynch would have reached the century mark in six short years, had the bull survived.

That saguaro on the left likely lived for more than a century, since it takes 75 years for a desert saguaro to grow its first arm.

Giant Saguaro, Tucson, Arizona Lehman's company profile:

"Lehman Brothers Holdings Inc. is an investment banking firm. The Company's activities include capital raising for clients through securities underwriting and direct placements, corporate finance, merchant banking, securities sales and trading, research services and private client services. Lehman Brothers operates worldwide."

Not for long.

I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.

Think of me as your local expert.

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Mesa, Arizona Real Estate Mesa Arizona Realtor

Homes Arizona Real Estate LLC - Mesa, AZ

AzLadyInRed

Mike, what's next? Or do I dare ask? Love your Saguaro cactus. I have a collection of them as well. ;-)

Sep 14, 2008 05:23 PM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Teri,

More of the same for me. I'm still making loans on purchases and refi's. Thanks for being the first to comment.

Mike in Tucson

Sep 14, 2008 05:35 PM

Aaron Auxier - "Hollywood's Connection to Vegas"®

Realty ONE Group - Las Vegas, NV

Crazy news about Lehmman today - going to be a bananas week it looks like.

Sep 14, 2008 05:55 PM

Gary McNinch

Better Properties Real Estate - Renton, WA

Broker, Renton WA Real Estate

So Mike??? Here's the question of the week??? Do you think we are about halfway through the shake out of huge corporations or are we on the downhill side? Amazing that the rattlesnake and cactus survive but Lehman Bros and Merrill Lynch. Is this just part of the natural order. I'd almost bet on the Mom and Pop.

List and Sell (and find a good lender like Mike) Gary @ RentonHomeFinder

Sep 14, 2008 06:26 PM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

Lehman is just the next domino to fall... there will be others...many others I'm afraid. Anyone who thinks we're near the bottom of this cycle is crazy. Merill Lynch, AIG, Wash. Mutual...etc. Talk about a bleak outlook.

Sep 14, 2008 08:31 PM

Susie Blackmon

Ocala, FL

Ocala, Horses, Western Wear, Horse Farms, Marketing

Very scary right now. My Tweetdeck tipped me off about ML around 2 am this morning. RV life could be sooner rather than later!!

Sep 14, 2008 09:42 PM

Charlottesville Solutions

Charlottesville Solutions - Charlottesville, VA

These are certainly crazy times... BofA buys Merril... wow!!!

maybe AR should buy Twitter.... :-)

your friend in Charlottesville!

Sep 14, 2008 11:28 PM

Don Rogers

Keller Williams Realty Chesterfield - O'Fallon, MO

Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Mike, Uncertain times for sure. And this makes me wonder what will happen next.

Sep 15, 2008 06:22 AM

Richard Byron Smith, NMLS #184479

Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Chattanooga, TN

Mortgage Loan Officer

I guess you are referring to the Inman News feature about the demise of mom and pop companies, and applying it to the mortgage business?

I'm afraid that the big companies standing at the end will have too much market share, and will make it difficult for small shops?

I also think that the government and HUD regulators are going to help that effort against the small shops.

Richard

Sep 15, 2008 09:46 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Richard,

No, I wasn't referring to anything from Inman. What?! Are they plagiarizing me again? LOL Seriously, if you don't mind, please edit your comment and put an active link to the Inman article; I'd like to read it and I'm sure others would as well. Thanks for commenting.

Don,

Hang on to your hat! Let's see what the election brings.

Charles,

Don't they own them already? LOL

Susie,

You're supposed to turn the thing off when you hit the hay. You'll sleep better.

Jesse,

I'm encouraged because the government changed its mind with Lehman. It's the first of the Non Bail Outs.

Gary,

I think we're more than half way through. I'm betting on Mom & Pop. That's just me.

Aaron,

That's what I think, too.

Mike in Tucson

Sep 15, 2008 12:05 PM

Terry & Bonnie Westbrook

Westbrook Realty Broker-Owner - Grand Rapids, MI

Westbrook Realty - Grand Rapids Forest Hills MI Re

It's not over but if more banks fail who will be left?

Sep 15, 2008 03:00 PM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Terry,

At last count, there were more than 7,600 commercial banks in the United States. The banking business will survive. Some of the banking gluttons will not.

Mike in Tucson

Sep 15, 2008 04:28 PM

Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

I was watching Glenn Beck on a segment about the economy and all the bailouts.

Hmmm, how many of our small businesses, which make up 70% of the businesses in America, going to get their bailiouts?

Sep 15, 2008 04:50 PM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

I agree, Mike. I was surprised to hear them say no to Lehman and no to a possible AIG bailout. They had to learn the word eventually.

Sep 15, 2008 06:03 PM