Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

US Banking Giant Goes To The Wall

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Sky News
Monday, Sept 15, 2008

US investment bank Lehman Brothers has announced plans for bankruptcy protection in New York after all rescue attempts failed.

The news has sparked panic in the world’s stock markets with big falls in Asia and in the UK, where the FTSE opened more than 100 points down.

The Bank of England says it will be monitoring the fall-out and is ready to intervene if it causes fresh chaos in the money markets.

(Article continues below)

Lehman – America’s fourth biggest investment bank – is to file a petition under Chapter 11 of the US Bankruptcy Code.

This usually allows companies to reorganise their contractual and debt obligations under the supervision of a bankruptcy court.

There had been a series of last-minute meetings in New York to try and save the 150-year-old institution.

  • A d v e r t i s e m e n t

But two potential buyers pulled out of a rescue deal and the Bush administration refused to bail out the stricken firm with taxpayers’ money.

Full article here

This article was posted: Monday, September 15, 2008 at 3:11 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Mass Marketing Campaign For World War III See the rest on the Alex Jones YouTube channel.

Join The Government And Hack Legally See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.