Embattled Wall Street giant Lehman Brothers is on the brink of collapse as the US government is debating whether they should save yet another company on Wall Street.
Problem is that the US government had already taken over Bear Stearns and mortgage giants Fannie Mae and Freddie Mac earlier this year. It’s becoming a little bit of a habit isn’t it? As US government officials and company executives try to put together a deal to save the company, you have to ask if this will be the last of the bailouts.
The financial markets have been in total turmoil for the past year and there’s no light at the end of the tunnel. Despite all the talk about how the financial industry is dealing with the problem, there seem to be no stopping the failures and bailouts in America.
And the problems seem to be coming at a faster rate than before. The latest troubles for Lehman come just days after the US government took over Fannie Mae and Freddie Mac. One wonder how long it will be before Singapore feels the full weight of the US slowdown.