Word: lehman
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Dates: during 2000-2009
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...brand of magic that sports teams offer. Citigroup stumped up some $400 million to tag its name to a new stadium that baseball team the New York Mets will play in from next year. And British lender Barclays - who backed out of talks over a possible takeover of troubled Lehman Brothers last weekend - lavished a similar sum for the naming rights to the New Jersey Nets' planned Brooklyn basketball arena. If that sounds risky, consider its exposure in its home market: the U.K. bank is the proud sponsor of the English Premier League...
...confidence among their customers and business partners. The Monetary Authority of Singapore, the city's financial regulator, stated that the financial resources of AIA currently met its requirements - an attempt to assure the public that there was no reason for panic. But after the failure of investment bank Lehman Brothers, the sale of Merrill Lynch, and the bailout of home-mortage giants Fannie Mae and Freddie Mac, hundreds of Singaporeans were taking no chances. Standing in the crowd outside AIA's offices, Karen Foo, 29, said she was only dimly aware of the underlying assets in the investment trust...
...well aware of the $85 billion lifeline extended to troubled insurance giant AIG by the U.S. Federal Reserve several hours before. But the news did little to calm his nerves. A day after Asian markets took a beating as investors dumped stocks in the wake of the Lehman Bros. collapse and Merrill Lynch buyout, anxiety over U.S. financial companies was still spreading. By mid-afternoon, a crowd of roughly 150 people still swarmed the entrance of AIA Singapore Ltd., many trying to pull out their funds or cancel their insurance policies. They shrugged off the blistering heat - as well...
...spoke with Alwaleed in Riyadh on Tuesday, as the world reeled from the shock of the Lehman Bros. bankruptcy. In his offices on the 66th floor of the iconic Kingdom Tower, the prince (a nephew of King Abdullah) seems a world away from the tumult in New York City. But a giant TV screen in his office was tuned to CNBC, and he conceded that his personal worth may have taken a hit with the stocks slide, though he stressed that he was doing well with investments closer to home...
...clearly, the financial sector in the U.S. is facing a huge crisis. When you have two big companies like Bear Stearns and Lehman vanish, and Merrill Lynch being absorbed, that tells you a lot about the difficulties being faced by the financial sector...