Lehman Brothers bankruptcy
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Lehman Brothers bankruptcy

Date: September 15, 2008
By: Laura Nichols
State Capitol Bureau

Intro: An MU financial expert says the bankruptcy of major investment bank Lehman Brothers will only have profound short term effects.

Laura Nichols (NIKELS) has more from the capitol.

RunTime:0:42
OutCue: SOC

Many in the business world say the collapse of Lehman Brothers is the end of an era, but some experts feel the affects will only last a few years.

MU Professor of Finance and Chair of Missouri Bankers John Howe said the negative effects will not last very long.

Actuality:  HOWE1.WAV
Run Time: 00:17
Description: "I don't see any very long term, by long term I mean something greater than three years implications of this. In fact, I think one could argue that it kind of got carried away with some things in the financial system and this is just kind of a returned to some degree of normalcy.  All be it a painful one for some people."
 
Howe also said the fall of Lehman Brothers will create major employment loss and a slow growth rate for the economy.
 
From the Capitol, I'm Laura Nichols.