Lehman Brothers--The Next Financial Casualty?
Jun 03, 2008
Investors are rather skittish these days, because everyone knows you can't trust a company or the government to tell you the truth about their true state of affairs.
Last March, Bear Stearns denied their problem right up to the end, and many people lost a lot of money believing their official statements. Many learned their lesson, and fewer people are now believing Lehman Brothers as they deny having financial difficulties. Its shares are plunging, down 55% this year and down 9% just today.
Lehman Brothers had a crisis back in September of 1998 when the Long Term Capital Management went bust in the wake of a Russian default. They survived that one. Let's see how they do this time around.