Lehman Brothers Files For Bankruptcy
Posted on Mon 15th Sep, 2008 11:18:41 AM
The financial meltdown continues with Lehman Brothers (LEH) filing for Chaper 11 Protection. Speculation that a merger with Bank of America (BAC) would occur was incorrect as Bank of America announced a $50 Billion all stock buyout of Merrill Lynch (MER).
Below is a look at the stock chart of Lehman Brothers which has in the last six trading days tanked from $16.20 all the way to pennies. Thousands of the financial giant’s employees are now stuck looking for new jobs.
Lehman now joins the likes of Bear Stearns, Fannie Mae (FNM), and Freddie Mac (FRE).
More on this topic
(What's this?)
NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation
(naked capitalism, 3/12/10)
Lehman Execs Have No One to Blame but Themselves
(Money Morning, 3/12/10)
More on the Resolution Authority Headfake
(naked capitalism, 3/8/10)
You gotta post something about the BOA buyout of Merril
What a day this has been so far, makes me wonder who is next in line.
Done
http://www.stocktradingtogo.com/2008/09/15/merrill-lynch-saved-by-bank-of-america-buyout/
Perhaps I should cover AIG’s liquidity problems as well.
AIG