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As the UK economy continues to dive bomb towards recession the Bank of England has given its most blatant indication to date that interest rates will fall again in January. The indication was that...
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Friday 12th September 2008
Despite some positive spin earlier in the week it looks as though the life of US financial giant Lehman Brothers is coming to an end as we know it. News that the US authorities are not willing to bailout the group while they attempt to sell off the family silver has seen the regulator move to take a closer look. This weekend is vital for the future of the group with a cash injection now key to continued trading, but can it still be saved?
The US financial regulator is said to be hovering over the closure button and news that talks with the government are not progressing well has put more pressure on the group. One of the oldest and best known names on Wall Street may be about to bite the dust and in all honesty it looks as though very little can be done to change the direction at this late stage.
The vultures are now said to be hovering, keen to pick off the family silver at rock bottom prices as and when the plug is pulled. Why would you rush to buy an asset from a going concern when there is a chance that the group could cease trading within 72 hours? |
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