If someone had predicted one year ago that Bear Stearns, Merrill Lynch (MER Quote) and Lehman Brothers (LEH Quote) would no longer exist today, such a statement would have been laughable.
Each of the three securities giants had their liquidity issues last year, but it was virtually unthinkable that Goldman Sachs (GS Quote), Morgan Stanley (MS Quote) and JPMorgan Chase (JPM Quote) would be essentially the only ones left standing among Wall Street's giants.
But now we have Lehman Brothers filing for Chapter 11 bankruptcy protection after a series of weekend meetings involving Treasury Secretary Henry Paulson, New York Federal Reserve President Timothy Geithner and several Wall Street chiefs failed to find it a dancing partner. The investment bank will now be forced to liquidate assets and its shareholders are left with a 20-cent stock. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
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DOWN
19.14
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DOWN
37.61
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SPDR Gold
115.06
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-1.48%
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