The decision by the Federal Reserve and US Government to let Lehman fail was a huge mistake, history will point to Lehman's failure as the major event that escalated the financial crisis to a financial panic-Lou
Reuters: Lehman bankruptcy filing wiped out billions
NEW YORK (Reuters) - Lehman Brothers Holdings Inc's emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday, citing an analysis by the bank's restructuring advisers.
A more planned and orderly filing would have allowed Lehman to sell some assets outside of bankruptcy court protection and would have given it time to unwind derivatives positions, according to the analysis by Alvarez & Marsal.
The Journal said it was too early to say how much money Lehman creditors would recover; it said unsecured creditors have asserted they are owed $200 billion.
Read Article Here:
http://biz.yahoo.com/rb/081229/business_us_lehman_bankruptcy.html
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment