"An auction of Lehman?s bonds yesterday determined that the bank?s borrowings were worth only 8.625 cents on the dollar. The valuation leaves the insurers of the debt a bill of about $365 billion. It is not clear whether the insurers, which are required to settle the bill in the next two weeks, will be able to pay ? a development that could further undermine increasingly stressed capital markets."
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4922981.ece |
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