Street scrambles as Lehman, Merrill falter »

Posted By TechnologyExpert 1 year, 2 months ago in Business & Finance
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When Wall Street woke up Monday morning, two more of its storied firms had vanished.

Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed for Chapter 11 bankruptcy after attempts to rescue the 158-year-old firm failed.

Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in an $50 billion all-stock transaction.

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TechnologyExpert

I am Editor-in-Chief at Alice Hill's RealTechNews (http://www.realtechnews.com). I also have my own blog (Tech-Ex) at http://TechnologyExpert.Blogspot.com. Finally ...

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    crespi1 year, 2 months ago

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    When we get the FUNDAMENTALIST NEOCONS THE HELL OUT OF OUR GOVERNMENT.

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      pongping1 year, 2 months ago

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      Unfortunately, there is no John Galt to shout, "Get out of my way." No doubt greed abetted by a willing government has led to this. But what stands on the horizon is not offering any solution that i can see.

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        tchef1 year, 2 months ago

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        Oh yes, our economy is doing just fine. Look at those healthy "fundamentals"!!

        If I'm not correct is the banking system one of the "fundamentals" for a healthy economy? Ours seems to be failing.

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