標題:Lehman Bros files for bankruptcy 新聞來源:http://news.bbc.co.uk/2/hi/business/7615931.stm (需有正確連結) Lehman Brothers, the fourth-largest US investment bank, has filed for bankruptcy protection, dealing a blow to the fragile global financial system. The news led to sharp falls in share prices around the world, and officials took measures to reassure markets. Lehman had incurred losses of billions of dollars in the US mortgage market. Merrill Lynch, also stung by the credit crunch, has agreed to be taken over by Bank of America, the latest twist in a dramatic turn of events on Wall Street. In Washington the US President sought to reassure markets. "In the long term I am confident that our financial markets are flexible and resilient and can deal with these adjustments", said George W Bush. Tumbling bank stocks Lehman's demise is being felt around the world: Stock markets and the US dollar have tumbled in reaction to Lehman's collapse, with banking shares hardest hit. UK bank HBOS saw its shares plummet 30%. Central banks have moved to reassure markets. The US Federal Reserve has broadened its emergency lending scheme and the UK and European central banks have injected a total of about $50bn (￡28bn; 35bn euros) into the financial system. There are fears AIG, once the world's largest insurer, could also face collapse. It is taking steps to raise money amid reports it is seeking a $40bn emergency loan from the Fed. Bank of America's move to buy Merrill in a $50bn deal means that three of the top five US investment banks have fallen prey to the sub-prime crisis within six months. In the UK, accountants PricewaterhouseCoopers (PWC) have been appointed as administrators for Lehman. 'No cash' PWC told a news conference in London that it is unclear whether Lehman's UK staff will get paid the $75m (￡42m) that they are owed in wages this month. "When we took over this morning, there was no cash in the company," said Tony Lomas from PWC. "We still don't know what the position is - we will tell staff as soon as we know if we can, or if it is appropriate to pay staff on Friday." In response to a question from a journalist he agreed it was extraordinary for a company like this to collapse. "What it underlines to me is the importance of market confidence," he said. "If no one wants to trade with you...there's no way back." Central bank funds Stock markets in Europe and Asia have dropped sharply and the dollar tumbled against the yen, the euro and the Swiss franc as Lehman's failure raised fears about the strength of the global financial system. The FTSE 100 index of leading UK shares ended down 212.6 points or 3.9% to 5,204.2. US shares on Wall Street also fell. Shortly after trading began the Dow Jones index was down 304 points, or 2.7%, at 11,118. The Bank of England and the European Central Bank said they were monitoring developments and had pumped ￡5bn and 30bn euros respectively into money markets to help stabilise them. US Treasury Secretary Henry Paulson said he would work with regulators and policy-makers around the world to maintain the stability of financial markets. "I am confident in the resilience of our capital markets, and in the commitment of US regulators and market participants to work together through this difficult period," Mr Paulson said. Talks collapse The chance that Lehman Brothers could collapse increased sharply after the strongest potential buyers pulled out at the weekend. Barclays and Bank of America had been in talks to rescue the bank, but negotiations faltered when it became clear that the US Treasury was strongly opposed to using government money to help clinch a deal. Greg Wood, the BBC's North America business correspondent, said that police had cordoned off the bank's headquarters in New York and staff were leaving with cardboard boxes as onlookers gathered to watch the bank's demise. "I think the whole history - 150 years of effort and hard work - that's the most saddening part for me," said one Lehman employee as she left the building. The bank, which employs about 25,000 staff worldwide, including 5,000 in the UK, was founded in 1850 by three brothers. 'Extraordinary 24 hours' Lehman Brothers said it intended to file for Chapter 11 bankruptcy protection, which allows a company time to reorganise and devise a plan to pay creditors over time. It said that its broker-dealer division and asset management division Neuberger Berman Holdings would not be included in the filing. Separately, Bank of America said it had agreed to buy investment bank Merrill Lynch for $50bn (￡28bn), in a deal that will create the world's largest financial services company. Three of the top five US investment banks have now fallen victim to the credit crunch. Lehman and Merrill join Bear Stearns, which was sold to JP Morgan for a knockdown price in March. The BBC's business editor, Robert Peston, said that it had been Wall Street's most extraordinary 24 hours since the late 1920s. He said that Merrill's sale was almost as shocking as Lehman's demise. "The global financial economy has never in recent years been tested by quite such a combination of accidents and jolts to confidence," he said. Insurer in trouble In addition to Lehman and Merrill Lynch, problems at AIG, once the world's largest insurer, are also mounting. Reeling from losses on its exposure to real estate, AIG has sought $40bn from the Federal Reserve to shore up its finances, the New York Times has reported. To help prevent panic on financial markets, the Federal Reserve said for the first time it will accept stocks owned by banks as collateral for short-term cash loans, broadening its emergency lending programme. Also 10 of the world's biggest banks on Sunday agreed to establish a $70bn emergency fund, with any one of the banks able to able to tap up to a third of it should they face any liquidity problems. -- 「就像其他各類集體主義一樣，種族主義也尋求不勞而獲。它尋求自動獲得知識﹔它尋求 自動評價人們的品質而忽略運用理性或道德判斷的責任﹔而更重要的是，它尋求自動的自 尊（或偽自尊）」 Ayn Rand<The Virtue of Selfishness> 致台灣之光的影迷跟球迷 --

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