Yesterday a breaking news hit the TV channels all over the world. According to the news, fourth biggest US banking group, LEHMAN BROTHERS decalred itself as bankrupt. It is termed as the worst decline in the US economy in the history of country.
US economic crisis ism hitting the stock exchanges throughout the world and stock markets in Japan, Singapore, Korea, Australia, India, New Zealand and many other countries suffered badly on Monday. According to the financial experts, the Bank got bankrupt after sudden unpredicted fall in the property mortgage market. This crisis will affect the economies all over the world and in the coming days many other financial institutes can fall. US Dollar (US$) also got a decline in its value against other currencies like Euro and GB Pound.
Its the time when Bush government must think over their policies in Iraq and Afghanistan due to which US is losing its reputation and facing the worst economical and financial crisis.