Zurdito
16th September 2008, 00:56
Lehman Brothers, one of the world's biggest investment banks, has announced it is filing for bankruptcy, in one of the worst banking collapses in history.
As the world economy prepared for a round of devastating blows caused by the credit crisis, Bank of America also agreed to buy Merrill Lynch, another giant of investment banking, for $50 billion in a deal creating the world's largest financial services company and saving Merrill from Lehman's fate.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/15/bcnlehman415.xml
EDIT: I see someone already posted this, apologies, please merge the threads if you can :)
As the world economy prepared for a round of devastating blows caused by the credit crisis, Bank of America also agreed to buy Merrill Lynch, another giant of investment banking, for $50 billion in a deal creating the world's largest financial services company and saving Merrill from Lehman's fate.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/15/bcnlehman415.xml
EDIT: I see someone already posted this, apologies, please merge the threads if you can :)