Can someone break it down as if they were telling it to a fifth grader (not so bright): What happened to Lehman Bros and why is it trickling over to other companies?

ANSWER

Adz3r0

ANSWERS: 2

englishman

Lehman Brothers bought too many loans that turned out to be good. When they realised they were no good, they couldn't get rid of them fast enough. Everyone who did business with them saw the problem and wanted to stop doing business with them. This caused a crisis of confidence and it just kept getting worse to the extent that they couldn't continue business any longer. They thought someone would rescue them, but no-one did. It is trickling over because if it can happen to them, it can happen to anyone.

No comments
| Permalink | Share | 22

0
No comments
heebygeeby

reference: http://www.campaignforliberty.com

No comments
| Permalink | Share | 22

0
No comments

ABOUT ANSWERBAG

Answerbag wants to provide a service to people looking for answers and a good conversation. Ask away and we will do our best to answer or find someone who can.We try to vet our answers to get you the most acurate answers.

Answerbag | Terms of Service | Privacy Policy

RELATED QUESTIONS

RELATED TOPICS

ABOUT ANSWERBAG