Reply #3: My, my, my. I wonder if Vegas is taking odds. [View All]

[whistle]

<snip>
Monday, September 15, 2008
black monday today?

"...in one of the most dramatic days in wall street’s history, merrill lynch agreed to sell itself to bank of america for roughly $50 billion to avert a deepening financial crisis while another prominent securities firm, lehman brothers, hurtled toward liquidation after it failed to find a buyer, people briefed on the deals said." - nytimes

"...the world will not be a better place with two free-standing investment banks—goldman and morgan —and a half-dozen major commercial banks, if that, running everything. further, there is a risk that the unraveling will become disorderly and out of control from this point, as assets hit the market in fire sales and do not find takers. this will affect pension funds and greatly compound the collapse of the wealth position of the middle class.... the collapse of wall street will hit main street like ike hit houston." - james k. galbraith