Lehman Brothers files for liquidation. After an all weekend emergency meeting at the New York Fed, no rescue, and LEH is gone. AIG announcing restructuring tomorrow. Bank of America in merger talks with Merrill Lynch, offering to buy the firm outright at $29/share, which values the 94 year old firm at a paltry $40 billion. The futures market say that stocks are not happy.
posted by eriko on Sep 14, 2008 - 428 comments