Lehman Brothers down 30% September 9th, 2008

Fannie Mae and Freddie Mac received Government support yesterday and all seemed well with the banking world. What a difference a day makes….Lehman Brothers dipped 30% on the news that it may not be able to raise the required funding to cover its losses. The credit crunch has led the bank to raise $6bn to cover write-downs. Lehman’s shares are down more than 90% this year and is it’s the US’s fourth largest investment bank, it too cannot be allowed to fail.

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    • Depreciation
      A charge made to the profit and loss in respect of the diminution in value of an asset. Depreciation aims to match the cost of the asset over the period in which it helps generate income.