WALL STREET MELTDOWN

[UAL_TECH]

WALL STREET MELTDOWN

Wall Street Meltdown: Lehman Files for Record Bankruptcy, Merrill Lynch Is Sold, AIG Seeks Capital

When Wall Street woke up Monday morning, two more of its storied firms had fallen. Lehman Brothers, burdened by $60 billion in soured real-estate holdings, said it is filing 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 a $50 billion all-stock transaction. And the world's largest insurance company, American International Group Inc., was forced into a restructuring as it sought a lifeline from the Federal Reserve

:down:

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[UAL_TECH]

Lehman and Merrill to pound already bloody job market

Headhunters and consultants said the U.S. financial services sector, already suffering from a glut of unemployed talent after shedding more than 100,000 jobs this year, must now brace for up to 50,000 more.

"The resume flow will start on Monday like there's no tomorrow," said Michael Karp, chief executive at executive search and consulting firm Options Group in New York.

:down:
These are the issues we should be concerned about.


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[Gilding the Lily]

WALL STREET MELTDOWN

Wall Street Meltdown: Lehman Files for Record Bankruptcy, Merrill Lynch Is Sold, AIG Seeks Capital



:down:

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The article failed to mention -- or atleast did not make clear -- that only the Lehman holding company filed for bankruptcy protection thus far. So, for all the subsidiaries of Lehman, it is business as usual (as usual as it can be I suppose). It will likely try to sell some of its operations outside of bankruptcy.

To grasp the scope of this filing, Lehman listed in its petition $ 613 Billion in total debts.

 

[TIME FOR CHANGE]

The capiltalist society of the 21st century is backed by the US govt.

:blink: :huh: :blink:

 

[RDU Jetblast]

Are these the same jokers that had a hand in running up oil prices with speculation?

 

[Freight train]

1. Bear Stearns

2. Fanny Mae

3. Freddy Mac

4. Lehman Brothers

5. Merrill Lynch

6. A I G

7.

8.

9.

10.

11.



Reward 4 More years as a result of the Last 8 ?

Sure. (and vote for a "bridge to No Where" while your at it !)

 

[Bobbie]

You can add "Big Oil" to that list...the only difference is that they've got literally trillions in cash reserves between all of the oil companies...no matter how hard oil falls, they're set for decades.

 

[Gilding the Lily]

Announced earlier: Barclays has agreed to purchase certain assets of Lehman. Still needs Bankruptcy approval.

 

[UAL_TECH]

World Market Snapshot.

BBC Market Data

COB 09/17/2008 @10:XX PM PST

View attachment 7908

:down:

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[UAL_TECH]

Nutty Market :wacko:

DJIA is up 400 points right now.

Certainly good news but wacky nonetheless.

B) xUT