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.
Monday, September 15, 2008
It's a Sad Day
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