So, these foreign countries were weighted toward ones with serious problems of their own. BWX is now 0.13 % below it's open last October. And, of course, Lehman is on the verge of collapse.
With its massive losses on troubled real-estate securities, the 158-year-old Wall Street firm has been subject to persistent rumors about its solvency, which it says are false. Mr. Fuld has presided over a stock decline of nearly 90% this year... [T]he rolling financial crisis [has] claim[ed] other big players -- Bear Stearns Cos., which was bailed out in March, and mortgage giants Fannie Mae and Freddie Mac....I don't imagine the ETF will do very well if its sponsor pulls out -- I'll just be another creditor suffering through receivership.
But, there's hope. Not for Lehman, for me.
Last week, the central banks of Russia and South Korea again charged into the markets to shore up their currencies by selling billions of dollars from their stockpiles of reserves.Maybe I'm too sentimental to be an investor. Or too attached to being right. In any case, banks fail on Fridays, so I have a couple of days to act. Maybe the Everbank Debt Free Index CD?
Other governments in developing countries, including Thailand, India and Pakistan, have also intervened to bolster their currencies in recent months.
The sums involved are large. Russia spent about $14 billion in August alone, the largest such drawdown in its reserves in at least a decade, as foreign investors fled following the conflict with Georgia. South Korea has spent more than $21 billion -- or roughly 8% -- of its reserves in the past five months to assist the ailing won.