Lehman Brothers, the fourth largest investment bank of the United States has filed for bankruptcy protection. Earlier it was said that Barclays bank and Bank of America were interested in buying Lehman Brothers. Barclays backed out and all attempts at saving Lehman Brothers failed.
Barclays has now shown interest in buying profitable core assets of Lehman Brothers. Barclays does not want Lehman’s “toxic investments in the residential and commercial property markets”. It also does not want Lehman’s unsettled transactions. Lehman Brothers has suffered huge losses in the current mortgage crisis in the United States.
The demise of Lehman Brothers will have far reaching consequences in international markets. It is one of the biggest bankruptcy in the history of the United States since 1930.
Lehman Brothers, the fourth largest investment bank of the United States has filed for bankruptcy protection. Earlier it was said that Barclays bank and Bank of America were interested in buying Lehman Brothers. Barclays backed out and all attempts at saving Lehman Brothers failed.
Barclays has now shown interest in buying profitable core assets of Lehman Brothers. Barclays does not want Lehman’s “toxic investments in the residential and commercial property markets”. It also does not want Lehman’s unsettled transactions. Lehman Brothers has suffered huge losses in the current mortgage crisis in the United States.
The demise of Lehman Brothers will have far reaching consequences in international markets. It is one of the biggest bankruptcy in the history of the United States since 1930.
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