Monday, September 15, 2008

It's a Sad Day

Lehman Brothers announced that they will file a petition under Chapter 11 on Monday morning.

It's a sad, and apparent end, to a 158 year old firm.

Together with the news of Merrill being purchased by Bank of America, and AIG in a search for capital to avoid a downgrade, the markets on Monday will be highly volatile (obviously).

We will learn more in the morning.

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