Sunday, September 14, 2008 will be remembered as one of the key days in recent American financial history. Lehman Brothers is on the brink of bankruptcy tonight as Barclays pulled out of the running to buy the troubled firm. The Wall Street Journal is reporting that Bank of America is buying Merrill Lynch for about $44 billion. Stock index futures are down anywhere from two to three percent. At least ten oil platforms in the Gulf of Mexico were hit by Hurricane Ike.
What will happen tomorrow when the opening bell rings? Post your thoughts...keep it civil and clean.
UPDATE at 10:33pm ET: The New York Times is reporting that insurance AIG is seeking a $40 billion loan from the Fed in order to survive.
Sunday, September 14, 2008
Wall Street On The Brink
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