Lehman Brothers Expected to Pull Through
Jun 6th, 2008 | By Contrarian Profits | Category: Featured, Financial NewsLehman Brothers, the fourth largest US investment bank, is at the centre of a storm of bad news stories.
Shares in the Wall Street powerhouse tumbled 31% last month on the NYSE on expections of heavy Q2 losses and the likelihood that the bank will have to raise cash to cover subprime-related writedowns. However, unlike rival Bear Stearns, the word on the Street is that Lehman will survive.
“On Wall Street, after Bear Stearns fainted, the other financial firms took smelling salts,” says Bill Bonner in The Daily Reckoning.