Looks like Lehman Brothers is in trouble. Is the company close to becoming another Bear Stearns?
31 March 2008
Following earlier reports that Lehman Brothers was ‘considering’ suspending lending at its UK mortgage lending arms, brand insiders have reported it could announce a withdrawal from the market tomorrow.
Advisers contacted Mortgage Solutions earlier today to inform them that representatives of Southern Pacific Mortgage Limited (SMPL) and Preferred Mortgages had indicated the brands would effectively close their doors on Tuesday.
The news follows earlier confirmation from a source close to the firm that the lender was considering pulling out of its UK operations.
http://www.mortgagesolutions-online.com/public/showPage.html?page=758225
http://www.mortgagesolutions-online.com/public/showPage.html?page=758225
1 comment:
I read the Fed said if one more company falls it will be a clear we're in a recession heading for a depression. Looks like Lehman Brothers is next. Henry Paulson is an idiot and this is way over his head. He has no clue what he's doing. Paul O'Neill said they would happen when he told Bush back in 2000 that his new policies would destroy the Economy and we see he was right.
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