Lehman bros has declared bankruptcy as many of us predicted would happen. For those of you are unaware Lehman Brothers is one of the largest banks in the world. My prediction is that the market will react very negatively to this news. I’m afraid that the bank failures are about to pick up big time.
“According to people briefed on the matter, Lehman Brothers will file for bankruptcy protection on Sunday night, in the largest failure of an investment bank since the collapse of Drexel Burnham Lambert 18 years ago.”
— Justin of Vizionkc