A Brief History of Lehman Brothers
Lehman Brothers was originally founded in 1850 by two cotton brokers in Montgomery Alabama and has since grown into one of Wall Street’s investment giants. On September 15, 2008 Lehman Brothers filed for bankruptcy protection in the largest bankruptcy filing in US history. Like many other Wall Street firms affected by the current financial crisis Lehman Brothers had a troubled history. In 2003 the Securities Exchange Commission obtained a settlement of $80 million dollars against Lehman Brothers alleging that the firm had improperly associated analyst compensation with the firm’s investment banking revenues. In August 2007 Lehman Brothers closed their subprime lender BNC mortgage resulting in the loss of 1200 jobs in 23 locations.
A Troubled History
In 2008 Lehman faced serious losses due to the subprime mortgage crisis that struck Wall Street. Because of tightening credit markets Lehman Brothers stock lost 73% of its value. Reports in August 2008 indicated that a Korean bank was interested in buying the troubled firm but Lehman’s stock continued to plunge and the deal was called off. Lehman’s stock declined further on September 11, 2008. On September 15, 2008 Lehman Brothers announced it would seek chapter 11 bankruptcy protection making it the largest filing in US history. Despite the doom and gloom on world markets the US dollar is strong and providing investors with Forex opportunities not to be had on world stock markets.
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Forex Opportinity For Small Investors
Many small investors in both Europe and the US are interested in Forex trading but have little or no understanding of how Forex markets work and how to invest. Before trading Forex, or any other markets for that matter, a thorough education is paramount. Forex education and training are necessities for those potential investors who wish to participate and take advantage of Forex opportunities.
Researching Forex Opportunities
There are several ways that investors can educate themselves about Forex markets and opportunities. The internet is the logical place to start and just typing the word ‘Forex’ in a Google search will garner millions of results. Beware of sites that make outlandish claims and offer no useful information. Many Forex sites are blatant advertising sites that offer no real information and should be avoided. There are many legitimate websites that offer thorough Forex training and many of these sites offer demo accounts where potential Forex traders may trade imaginary currencies in real time. These demo accounts allow potential Forex traders to get a feel for the market ,how it works ,and to learn how to take advantage of Forex opportunities
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A Brief History of Forex
Since the Forex markets have no central location and conduct business using various electronic platforms investors in the UK enjoy the same opportunities as traders around the globe. Forex opportunities can be accessed from anywhere with internet service. Historically modern Forex markets came into existence with the Bretton Woods agreement which established rules for commercial and financial transactions between industrialized nations. The Bretton Woods agreement was instrumental in the reconstruction of Europe after World War Two.
In the early 1970’s the gold standard was abandoned and currencies were allowed to float freely. By the 90’s various policy changes allowed small investors to enter this lucrative market. Today Forex trading is popular in both Europe and the United States and the UK is no exception. Forex markets are the largest in the world with approximately 2 trillion dollars US traded daily. No longer the exclusive domain of large banks and corporations, Forex markets now provide astounding opportunities for the average investor.
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