The financial crisis that is haunting the US financial system is taking its first big toll with the leading financial giant Lehman Bros set to collapse. The US government and the US FED seem to have decided not to bail out the institution, since they feel that it has over leveraged itself beyond its means. The collapse of Lehman bros is expected to have ramifications across Europe and even Japan to a major extent, because they may be carrying billions of dollars worth of toxic instruments of Lehmans which may not be bankable anymore.
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