Financial Markets "One step away' from meltdown"

Lindy — 9/15/2008 5:48:39 AM (archived)

Get ready for a stock market crash this week; we're in trouble:

>"NEW YORK - The announcement early Monday by Lehman Brothers that it would file for Chapter 11 bankruptcy after a rescue plan failed followed a weekend of seismic shocks from Wall Street, including an apparent government-brokered takeover of Merrill Lynch by the Bank of America.

A global consortium of banks, working with government officials in New York, announced late Sunday a $70 billion pool of funds to lend to troubled financial companies. The aim, according to participants who spoke to The Associated Press, was to prevent a worldwide panic on stock and other financial exchanges."

Updated <here.>

The whole thread (7 posts)

Financial Markets "One step away' from meltdown" - Lindy - 9/15/2008 5:48:39 AM
- Don't worry. Everything's just honky-dory with our financial system! (n/t) - John McCain - 9/15/2008 6:18:32 PM
  - Who you callin' a honky, cracker??! (n/t) - McFly - 9/15/2008 8:48:13 PM
  - If there's anything we Republicans know how to do, it's run an economy and fight a war. (n/t) - hERbERt HoovER - 9/15/2008 7:05:46 PM
    - Priceless! (n/t) - Lindy - 9/15/2008 10:04:27 PM
- re: Financial Markets "One step away' from meltdown" - Andrew - 9/15/2008 6:15:46 AM
  - You can be sure the CEO's will all walk away with their golden parachutes intact. (n/t) - Eri - 9/16/2008 2:26:51 AM

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