Why Lehman's Bankruptcy Matters
What an extraordinary day!
As I write this, the market is down 2.5% on the tumultuous events of the past weekend -- the most prominent of which is the looming bankruptcy of Lehman Brothers (NYSE: LEH). Overseas, the UK FTSE 100 index lost 4.3% on the day and the German DAX lost 3%. (Most of Asia’s major stock markets were closed on Monday for holidays.)
What’s the big deal? How does Lehman’s bankruptcy affect more than just a handful of bankers and traders (more