Lehman loses its shirt

Lehman just declared the largest loss in its 160 year history.  Even analysts who had been expecting a big bath were shocked.  The stock value nearly halved in trading this morning.  (Side note:  if you doubt insider trading takes place, look at what happened yesterday.  Clearly a number of people got a hint of those numbers in advance.)  The company announced that its spinning off art of its operations to raise cash.  Nonetheless, don't be surprised if they turn up at treasury's door soon, asking for a handout to stave off a liquidity crisis.

Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Never Tell a Person How Old They Look

Age discrimination affects us all. Who cares about youth? James Hamblin turns to his colleague Jeffrey Goldberg for advice.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus


Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.


Pittsburgh: 'Better Than You Thought'

How Steel City became a bikeable, walkable paradise


A Four-Dimensional Tour of Boston

In this groundbreaking video, time moves at multiple speeds within a single frame.


Who Made Pop Music So Repetitive? You Did.

If pop music is too homogenous, that's because listeners want it that way.

More in Business

Just In