Lehman debt protection costs jump as shares dive
NEW YORK (Reuters) - The cost to insure Lehman Brothers LEH.N debt against default surged on Friday, as its stock price plunged for the second day.
Credit default swaps on Lehman Brothers debt widened 55 basis points to 380 basis points, or $380,000 per year for five years to insure $10 million in debt, according to Phoenix Partners Group. Lehman's stock also plunged more than 14 percent.
(Reporting by Karen Brettell; Editing by James Dalgleish)
© Thomson Reuters 2009 All rights reserved
Citadel enters the fray
Kenneth Griffin's powerful hedge fund has waded into the case of Goldman Sachs' purloined computer code, suing three of its former employees for setting up Teza Technologies. Full Article | Full Coverage
