There's more financial news this Sunday night than on most weekdays.

[randomness]

Lehman Brothers looks like it's going to file for bankruptcy tonight.

Merrill Lynch is selling itself to Bank of America to avoid a similar fate.

American International Group has asked the Federal Reserve for a $40 billion loan.

It's the phase of the moon! :) Or the phase of the business cycle, anyway.

Comments

[xse99.livejournal.com]

does this have to do with the fact that it's Monday morning already in the Asian markets?

[spatch]

Whoa.

ML is one of my company's clients. They had a whole buncha bigwigs show up last week for an on-site visit. Nobody really knew what it was all about but there was a clear sense of Big Tension among all the higher-ups. I wonder if they were actually BoA types evaluating us to determine whether or not to remain a client.

Again, I say unto thee, whoa.

[tcb.livejournal.com]

da-yum!

[evilmagnus]

Huh. Didn't see the ML thing coming; I wonder how BofA's going to justify that stock price, given their previous dilution with Countrywide (and all those yummy mortgages they inherited). I guess they're counting on becoming Too Big To Fail (tm).

[hammercock.livejournal.com]

You know, I really hate this feeling that we are witnessing the twilight of this nation.

[digitalemur.livejournal.com]

I blame this post for the lengthy dream I had last night that my mother's farm mortgage had magically converted into a variable-rate mortage that had a new interest cap at 30% and was expected to reach that cap some time in the next year.

And yes, I thought "they can't do that!" even in the dream.

[meepodeekin.livejournal.com]

So...should an ordinary schlub be worrying about their money? I checked out the link you recommended above, and both my bank and my credit union were rated 3. Interpreting that is harder for me.

Also, do you have any links or recommended reading on the mathematical side of all this? I'd like to give a presentation on this stuff for our math students, but it has to have some actual math in it...

[stolen-tea.livejournal.com]

3 down, 2 to go? I guess Morgan Stanley is the only one that hasn't had a serious effect yet...

[amelia-g.livejournal.com]

I'd like to say this is not keeping me up at night, but that would be inaccurate. We live in interesting times.

[choirsoftheeye.livejournal.com]

Oh out of control boom-bust cycles in a deregulated market! You are so awesome!