Lehman Brothers is a New York based financial services bank which is about to go out of business, like Bear Stearns and Fannie Mae and Freddie Mac before it. That's what happens when you play fast and loose with money, just because you want to maximize profits (i.e., when you get greedy). Lehman had been around since 1850 and had been buffeted by bad turns of events - including bad management and the Great Depression - many times. It had survived by merging or striking deals with other firms - Goldman Sachs, E.F. Hutton, and American Express among others. Now this. It's up for sale if you're interested. I predict another Federal bailout. Who will bail out the Federals?
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