Bankruptcy.........?

Investors in recent weeks had grown increasingly jittery about Lehman's $46 billion of mortgages and asset-backed securities, as well as its credit rating and its ability to raise capital. Bankruptcy represents the end of a 158-year old company that survived world wars and the collapse of Long-Term Capital Management but could not survive the global credit crunch. "Its truly sad that the once admired firms dont exist any more. It shows that reputation once built has to be continuously maintained. It also shows weak US control functions, otherwise how could the firms which hire only top class MBAs take such significant risky exposures? I feel sorry for the employeesI feel sorry for the employees and investors whose careers and lives have been affected. The US has not been able to manage its affairs and is dragging the world down with it".

Prabha baid
prabha.baid@gmail.com
prabhab_ june07@mba.isquareit.ac.in