Miami Herald (09/15/08); Sorkin, Andrew Ross; White, Ben; Anderson, Jenny
Bank of America has agreed to acquire Merrill Lynch for $50 billion in stock. However, another Wall Street giant--Lehman Brothers--was unable to complete a deal to spin off its troubled assets into a "bad bank," and the investment bank now is likely to file for bankruptcy protection. Meanwhile, the large insurer AIG, already reeling from losses on mortgage securities and collateralized debt obligations, is facing further write-down and is seeking a capital infusion of more than $40 billion. Also, the shares of Washington Mutual plummeted last week, and there are concerns that firm could falter as well.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment