Lehman Brothers defied the death knell yesterday and continues to reassure stakeholders that its house is in order.
And many experts such as Professor David Beim agree that Lehman isno Bear Stearns.
“Lehman has much stronger and more broadly based businesses” than Bear, Beim told a Dow Jones reporter. “There is some anxiety about it, but I don’t think it will be fatal to the firm.”
The Fed’s intervention also helped. “I think that we’ve seen very possibly the last major problem of a large financial institution,” said Professor Charles Calomiris during an interview on NPR yesterday. “And what we’re going to see now is even more aggressive action by the Fed to create liquidity for other institutions to avoid a repeat.”
More...
And many experts such as Professor David Beim agree that Lehman isno Bear Stearns.
“Lehman has much stronger and more broadly based businesses” than Bear, Beim told a Dow Jones reporter. “There is some anxiety about it, but I don’t think it will be fatal to the firm.”
The Fed’s intervention also helped. “I think that we’ve seen very possibly the last major problem of a large financial institution,” said Professor Charles Calomiris during an interview on NPR yesterday. “And what we’re going to see now is even more aggressive action by the Fed to create liquidity for other institutions to avoid a repeat.”
More...