Lehman in eye of storm as turmoil extends
Sunday, 14 September 2008
NEW YORK, Sept 13 (AFP): The turmoil surrounding embattled Wall Street giant Lehman Brothers extended yesterday as its share meltdown continued and the company and US government scrambled to find a buyer.
Shares in Lehman fell 9.3 percent to 3.84 dollars on the heels of a 41.7 percent slide Thursday.
With Lehman on the brink of collapse, speculation swirled over a deal to save the the venerable Wall Street firm amid ongoing debate on whether the US government should "backstop" any deal with credit guarantees-a decision widely criticized in the takeover of Bear Stearns earlier this year.
Shares in Lehman fell 9.3 percent to 3.84 dollars on the heels of a 41.7 percent slide Thursday.
With Lehman on the brink of collapse, speculation swirled over a deal to save the the venerable Wall Street firm amid ongoing debate on whether the US government should "backstop" any deal with credit guarantees-a decision widely criticized in the takeover of Bear Stearns earlier this year.