New York - As on 15 September 2008, the U.S. bank Lehman Brothers went bust, nobody knew how bad would the consequences. Only now, six months later, shows the enormous scale of the damage.
Shortly before, on 10 September 2008, had German Bank chief Josef Ackermann announced the end of the financial crisis was in sight. In fact, since they began in earnest.
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It did not have to come. 10 until 12 billion U.S. dollars had served six months in order to save Lehman and thus the world economy, says Lehman insolvency Bryan Marsal. Little money compared to what governments now spend in a desperate fight against the threat of mass unemployment.
But Washington refused at that time to help Lehman - with fatal consequences. Because almost every bank in the world owned Lehman paper, was destroyed in one fell swoop, the confidence in the entire financial sector.
Now the outlook bleak: It was "highly uncertain" whether the growth again in 2010 to jump, would ter in a forecast of EU finance minis.
