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Lehman collapse hits global system

September 16th 2008 02:12
Lehman Bros
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Sep 15 - Lehman Brothers investment bank files for bankruptcy protection as Merril Lynch sold to Bank of America in devastating weekend on Wall Street.

New York based Lehman founded 158 years ago filed for bankruptcy protection after trying to finance too many risky assets with too little capital.


It is the largest and highest profile casualty of the global credit crisis so far.

Penny Tweedie reports.













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