Three words just used to describe the state of what's currently happening in the financial markets: HISTORIC, DISTURBING, and ENORMOUS.
Credit is given to CNBC for breaking Sunday's developments in these three firms. I will update this posting tomorrow but in short summary:
1. Lehman will declare bankruptcy
2. Merrill Lynch has been forced by the Federal Government to sell itself...and Bank of America will be the acquirer
3. AIG is dire needs to acquire capital and is considering selling some of its assets
More to come!
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