雷曼 祸起多元化(国外英语资料).docVIP

雷曼 祸起多元化(国外英语资料) Lehman used 30 times leverage to run 5 times, 10 times leveraged business at the moment, it was doomed to the fate of its bankruptcy. The 158 year old bankruptcy of Lehman was a big blow to the financial world, and Lehman had fallen down before anyone could fully understand what had happened. Why did Lehman, who has experienced two world wars and many economic crises, be so vulnerable in the financial tsunami? Is the companys own greed? Is the expansion of management ambitions? Or poor regulation? Or the plot of a short man? In fact, the root of Lehmans failure is diversification. In order to pursue the diversification of Lehmans profit growth, into commercial banking, insurance, asset management, real estate investment and other business areas, although with high salaries to the industrys most outstanding person, but in the most basic configuration problem of venture capital has made a big mistake In the relaxed regulatory environment, Lehman will securities companies highly leveraged business model on commercial banks, real estate investment and other traditional business, leading to the high risk of a serious shortage of capital for business, when a crisis comes, the loss is multiplied, and caused the capital insufficiency, the rating agencies downgraded and liquidity disappeared other issues, eventually go bankrupt. The scourge of pursuing diversified growth After 1990s, Lehman began to diversify. After 2000, diversification was included in the core strategy, pursuing diversification growth. Since 2002, Lehman has worked hard to broaden its mortgage lending business. From 2004 to 2007, Lehman has acquired many mortgage banks and payment, residents holding mortgages, commercial mortgages, mortgage and other municipal assets, also added a special investment in the real estate investment fund (REITS) group. In other businesses, Lehman also carries out a wide range of diversification. 2006, 2007, Lehman has acquired companies including education ba