US Economy Meltdown: Worries over Lehman, etc., could wreak havoc on marketsJohn Waggoner and Sue Kirchhoff
Financial markets could be in for a wild ride Monday as they digest the meltdown of Lehman Bros., a merger of Merrill Lynch and Bank of America, and efforts to bolster American International Group. Talks to find a buyer for Lehman apparently stalled Sunday as Bank of America and Barclays Bank walked away from negotiations. Its most likely fate: liquidation.
A Lehman bankruptcy would be the largest financial collapse since 1990, when investment bank Drexel Burnham Lambert failed.
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