Lehman Averts Disaster - For Now
Lehman Brothers (LEH) certainly won't go down without a fight.Facing pressure to raise capital amid mounting losses and a plummeting stock price CEO Dick Fuld announced a plan today to keep the investment bank afloat.The company released its third-quarter results a week ahead of schedule to quell concerns it would become the latest casualty of the worst financial crisis since the Great Depression. Fuld also detailed plans to reduce exposure to mortgage-related assets which continue to erode in value. According to the Wall Street Journal the last 3 months are evidence of ongoing turmoil in the credit markets and ...
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