Danes forced to bail out Roskilde Bank

The Danish Central Bank acted overnight to "secure financial stability in Denmark" by taking over the nation's eighth largest bank, Roskilde Bank, after it lost over US$1 billion through soured real estate loans. Denmark's economy is in recession and house prices have fallen 25% in some parts of Copenhagen. Meanwhile, talk is growing that Lehman Bros's long term CEO Dick Fuld may have to resign or step aside as the US investment bank struggles to offload assets to raise fresh cash. South Korea's financial authorities drove another nail in Lehman's coffin overnight when it recommended substantial Korean investors not pump money into Lehman.