Corporate treasurers face liquidity challenge

With fewer underwriters to help them raise money, corporate treasurers are learning to live with a lack of liquidity in the global markets.

Times are difficult for corporate treasurers as liquidity drains away from global money markets and credit fears continue to grip investors.

The US governmentÆs $700 billion bail-out plan to shore up the global financial system has not allayed concerns about the sectorÆs future.

The market has also seen the rapid disappearance of major bond houses Bear Stearns and Lehman Brothers, while Merrill Lynch has been taken over by Bank of America. Morgan Stanley and Goldman Sachs have also given up...

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