Mountain Girl
March 30th, 2008, 08:40 PM
Nabi also pointed to rumors circulating on Wall Street that Lehman Brothers may be short of cash. Similar rumors two weeks ago about financial giant Bear Stearns prompted a bank run that led to that firm's collapse and sale to J.P. Morgan Chase.
"This morning's rumors of Lehman circulated, and immediately all of the investment houses went down," Nabi said. "This is not over -- these rumors, some of them are false, some of them exaggerated and some of them may hold true."
Shares of Lehman Brothers fell 8.90 percent, to $38.71. Shares of Bank of America and J.P. Morgan Chase fell 3.01 and 2.83 percent, respectively.
http://www.washingtonpost.com/wp-dyn/content/article/2008/03/27/AR2008032703612.html?hpid=topnews
"This morning's rumors of Lehman circulated, and immediately all of the investment houses went down," Nabi said. "This is not over -- these rumors, some of them are false, some of them exaggerated and some of them may hold true."
Shares of Lehman Brothers fell 8.90 percent, to $38.71. Shares of Bank of America and J.P. Morgan Chase fell 3.01 and 2.83 percent, respectively.
http://www.washingtonpost.com/wp-dyn/content/article/2008/03/27/AR2008032703612.html?hpid=topnews