Stop the Press: LEH Gone
We could be forgiven for sounding a bit elegiac but this just came in over the wire: NYSE suspends trading in Lehman Brothers share.
NEW YORK, Sept 17 (Reuters) – The New York Stock Exchange’s regulatory arm said on Wednesday that trading in shares of Lehman Brothers Holdings, Inc has been suspended, effective immediately.
The exchange said that a listing was no longer considered suitable after the investment bank filed for bankruptcy on Monday.
Political Nexus of the Fallen
If anything, the glee of a sewing circle over the paroxysms underway in the financial market presents a splendid bit of irony in an otherwise tumultuous week.
On the heels of de facto nationalization of Fannie and Freddie, venerable Lehman Brothers fell on its sword, dying an ignominious death, followed by an eleventh-hour rescue of AIG that “brings on bloodbath”, as investors fear more shoes may drop.
Mind you, this is an election year. The “bewildered” candidates offered standard boilerplate responses. While partisans are parsing whether the economy is “fundamentally strong”, political junkies dig the piles and uncover some interesting factoids.
