In a sign that write-offs are still coming from unexpected quarters, Lehman (NYSE: LEH) has disclosed that it will liquidate three funds which have found themselves in deep trouble.
According to Reuters "The bank blamed the liquidation on "market disruptions that occurred in the second half of the 2007 fiscal year and further deterioration in the 2008 quarter."
In other words, we still have lots of problems.
Douglas A. McIntrye
ALERT: 5.25% Yield Is 8x National Average (Sponsored)
Robinhood Gold just rolled out a wild 5.25% APY yield for members, a whopping 8x the national average and way better than treasuries.
Earn an eye watering amount of money while you sleep. Sign up today — click here to start earning today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.