Lehman Brothers Done!

Lehman Brothers have been trying to keep themselves out of bankruptcy court for a few weeks now. But they can no longer do so. The 158-year-old firm – Lehman Brothers have filed for Chapter 11 bankruptcy this morning. This bankruptcy filing will shack up the world markets. All stock exchanges around the world will open down and could stay down for awhile. The Lehman Brothers have been burdened by $60 billion in real bad real-estate holdings. There’s really not much more to say about this, besides hang on for another ride on Wall Street.

Tags: Lehman Brothers

Bad Banking!

Want to know how to bring America to its knee’s? Just watch how when Lehman Brothers and other banks fail. If you haven’t heard Lehman Brothers is currently trying to sell off the whole company, before they completely go under. Their shares had dropped in value by almost 46 percent in one day. And right now their down another 37 percent with share value at $4.50. There not the only bank with major problems. Another one is Washington Mutual Inc, which is down 9 percent to $2.11. They’re losing money as well; because of huge loses on mortgage-related debt. I was reading that there is going to be some form of resolution with Lehman Brothers by the Treasury Department. Everyone is hoping that the Treasury Department is going to get some people together to help bring Lehman through this. Of course this is just talking right now, will it happen is anyone’s guess.

Tags: Banking, Lehman Brothers, Washington Mutual Inc