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The panic on Wall Street of Lehman’s death
By cpa | September 15, 2008
September 15, 2008 is the U.S. financial history historic day.
That is the truth.
Dow Plunges 504 Points on Lehman Bankruptcy, Merrill sold, AIG Woes.
A stunning makeover of the Wall Street landscape sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks. Investors reacted badly to a shakeup of the financial industry that took out two storied names:
Lehman Brothers Holdings Inc. and Merrill Lynch & Co . AIG.
Since the weekend the Bank of America and Barclays withdraw from Lehman Brothersthe acquisition of negotiations, Lehman Brothers Holdings plans in accordance with United States Bankruptcy Code Chapter 11, Southern District of New York to the United States Bankruptcy Court for bankruptcy protection. The application does not include its various subsidiaries and broker dealers of any other affiliates, all subsidiaries of the brokerage dealers will continue to operate. Including subsidiaries of Neuberger Berman Holdings LLC, the company, all customers will be able to continue to use their account transactions.
Topics: STOCK |
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