Lehman Brothers Said to Prepare Bankruptcy as Buyers Withdraw

September 14, 2008 by · Leave a Comment
Filed under: Industry News 

Tomorrow morning (Monday) will be very telling on is to come. This announcement could have major implications going forward. The first thing that comes to mind is what exposure is our their for CDS against Lehman debt or how much of this paper are they the counter-party and if there is major exposure on either or both, what position does that put in companies in when they file bankruptcy protection?

My gut feeling is this is going to send shock-waves throughout the markets. Gold has already jumped 2 1/2% in the Asian market at the time of this writing on a Sunday night.

Release:

Lehman Brothers Holdings Inc. prepared to file for bankruptcy after Barclays Plc and Bank of America Corp. abandoned talks to buy the U.S. securities firm and Wall Street prepared for its possible liquidation.

Read more