Lehman Brothers, the fourth largest investment bank in the U.S. is not able to survive by hiding the current financial crisis the world. Within 24 hours to the front, Lehman Brothers will put the protection of bankruptcy.
Based on Chapter 11 regulations which apply in the U.S., a company which threatened liquidation period may be requested to make organizing and set back plans to pay for the loans company. Currently, the police conduct strict vigil on the Lehman Brothers headquarters in New York.
Last week, the company announced a loss of 3.9 billion dollars in U.S. money market, and create a global financial system becomes shaky because Lehman partners bank states to cancel the agreement. Lehman bankruptcy to stay waiting time, after the potential buyer stock items throughout the weekend retreat yesterday.
Discussions between the Barclays and Bank of America finally said, they do not believe that Lehman Brothers is able to continue the business and provide benefits to the stakeholders.
Currently, the police conduct strict vigil on the Lehman Brothers headquarters in New York, while the servants carrying boxes made of cardboard, leaving Lehman Brothers office. The Bank employs approximately 25,000 employees worldwide. In the UK alone, the number of employees Lehman Brothers reached 5000 people.
In addition to Lehman Borthers, Merril Lynch Bank also have credit problems and have been taken over by Bank of America. The situation is further clarify the financial crisis experienced by the U.S. at this time, at the same time with the weakening U.S. dollar against the Euro currency and the Yen and the fall in the stock exchanges in Asia, Europe and Wall Street itself.
Former Head of U.S. Federal Reserve, Alan Greenspan called the financial crisis that the U.S. at this time is a recurring crisis, once in mid-or in a century. In an interview with ABC News, Greenspan said, this crisis is the worst crisis ever see and it will last long. (ln / prtv / bbc / aljz)