A U.S. government default would be an economic calamity like none the world has ever seen.
Last Sunday, Sept. 15, marked the five-year anniversary of the collapse of Lehman Brothers. At that time the gold price was trading near the $900 per ounce level. I believed that to be on the high side, actually expecting gold to trade down to around $700.
The price of gold marked the fifth anniversary of Lehman Brothers' collapse by sliding $25 per ounce Friday morning, finally bouncing from a new five-week low at $1,305.
It is important to note how the Lehman bankruptcy and subsequent systemic, financial and economic crises showed gold’s importance as a safe haven asset and as financial insurance in a portfolio.
The Great Recession left its scars, but signs of U.S. economic resilience are everywhere, from housing to easing credit.
Wholesale prices for gold rose 1.1% in Asian and London trade Wednesday morning, nearing yesterday's 1-week highs at $1260 per ounce as the rate for leasing and borrowing gold rose further.
The gold market continues to digest the ramifications of gold borrowing costs surging to the highest since the post-Lehman Brothers scramble for gold bullion.
Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy, managers of the bank’s estate are demanding millions from retirement homes, colleges and hospitals.
Riccardo Banchetti, whose work packaging derivatives took him far at Lehman Brothers, is now making a living unraveling the kind of deals he once developed.
Lehman, which is due to make a third payment to creditors in March, had $5.6 billion in free cash on Nov. 30, an increase of $1.1 billion during the month.