I read the news today - oh boy
A.I.G. Seeks $40 Billion in Fed Aid to Survive
The American International Group is seeking a bridge loan
from the Federal Reserve as it faces a potential downgrade
from credit ratings agencies.
Lehman Brothers Announces It Will File Chapter 11 Bankruptcy
Lehman Brothers, the storied Wall Street securities firm,
announced on its Web site early Monday that it will file for
Chapter 11 bankruptcy protection.
After Frantic Day, Wall St. Banks Falter
In one of the most dramatic days in Wall Street history, Lehman Brothers said it will file for Chapter 11 bankruptcy, while Merrill Lynch agreed to sell itself to Bank of America for about $50 billion.
Jittery Road Ahead
Wall Street and the federal government faced off over the weekend, raising worries of a sell-off when markets open on Monday.
Eww. Not good.
What is that crashing sound I hear in the distance? I've heard that 'pride goes before a fall.' I wonder if that is also true of unfettered greed?
Labels: bankruptcy, Stock Market, Wall Street
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