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Thread: The Lehman & Merrill Collapse

  1. #1
    Product of Determination The Lehman & Merrill Collapse Opportunist's Avatar
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    Default The Lehman & Merrill Collapse

    US investment bank Lehman Brothers has announced that it will file for bankruptcy this morning, after a weekend of rescue talks, overseen by Henry Paulson, the US Treasury Secretary, failed. Lehman had incurred losses of billions of dollars in the US mortgage market, amid the global economic crisis. Here are some initial reactions from figures across the globe.


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    A tumultuous weekend on Wall Street has led to the expected bankruptcy of Lehman Brothers and the US Federal Reserve acting to prevent panic in the markets.

    Staff at Lehman’s New York offices packed their bags yesterday after news broke that Britain’s Barclay’s had pulled out of a deal to save the US giant.

    America’s fourth largest investment bank was expected to file for bankruptcy.

    In a bid to prevent the crisis deepening the Fed has for the first time said it will accept stocks in exchange for cash loans to financial houses needing a bail-out.

    How much stability that will bring remains to be seen. Traders around the world are expecting a big impact on the market..

    In other weekend developments Bank of America bought Merril Lynch and ten of the world biggest banks established an emergency fund to stave off collapse.
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  2. #2
    ...... The Lehman & Merrill Collapse Fabulous's Avatar
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    Default Re: The Lehman & Merrill Collapse

    I hope everyone votes for Obama...I can't even begin to tell you my day here...It will be bad for everyone for the next 18 months.

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    Product of Determination The Lehman & Merrill Collapse Opportunist's Avatar
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    Default Re: The Lehman & Merrill Collapse

    Quote Originally Posted by Fabulous View Post
    I hope everyone votes for Obama...I can't even begin to tell you my day here...It will be bad for everyone for the next 18 months.
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    Look up in the sky and tell me what you see
    The clouds, naw nigga, not me
    I see opportunity, I'm a opportunist
    Nigga, you heard what I said, "I'm a opportunist"

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    Eat Lead!!! The Lehman & Merrill Collapse Ironstreets's Avatar
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    Default Re: The Lehman & Merrill Collapse

    thats gonna be a lot of jobs lost...50 billion for merrill lynch


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