Lehman Bros comes under fire in Asia
Reports surfaced last Monday that DBS had instructed traders not to enter new transactions with Lehman, due to a crisis of confidence regarding the Wall Street bank after news of JP Morgan's government-backed takeover of Bear Stearns. By mid-week, reports followed that DBS had reauthorised some trades. DBS did not confirm or deny whether such circulars were sent.
"We did not stop doing business with DBS," said a Lehman Brothers spokesperson in Hong Kong, citing a USD/NZD20 million foreign
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