Archive for September, 2008

Lehman Brothers to be liquidated

Lehman Brothers’ 158-year old run came to a grinding halt this weekend. The biggest banking bankruptcy ever.

Perhaps this was long waited since 1999, when depression-era Glass-Steagall act was repealed? It all comes down to capital, size of balance sheet and reliance on wholesale markets for liquidity. See below for more details:

Lehman Brothers files for Bankruptcy (including European counterparties)

PwC Says Unwinding Lehman Brothers Could Take Years

Watch the LIBOR