Lehman Brothers Bankruptcy Chapter 11, Is Merrill Lynch Next ?
We are sorry to tell you that one of the highest profile investment institutions that is 158 years old Lehman Brothers declared bankruptcy on monday.The statement said “Customers of Lehman Brothers, including customers of its wholly-owned subsidiary, Neuberger Berman Holdings LLC, may continue to trade or take other actions with respect to their accounts,”.
Despite the efforts made to save Lehman Brothers from bankruptcy , they failed . The bank of America could not find a customer for Lehman Bros and they declared bankruptcy this morning. We have no idea about the employees of Lehman Brothers since they have not said anything about this topic.
Its said that european stocks will be affected by the bankruptcy of Lehman Brothers as soon as trading begins today. Oil prices are decreasing dramatically and dollar is getting value against to other country’s currencies.
The Bank of America says they will buy Merrill Lynch for 50 billion. We will be informing you about this situation as we get detailed news.
Tags: aig insurance, aig news, lehman brother bankruptcy, Lehman Brothers employees, Merrill Lynch, Merrill Lynch bankruptcy
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