What happened to Merill Lynch and Lehman Brothers Co. ?
Such an oldest serving banks , no more ?!!
unable to believe !!
Regards,<br />Pradeep Balasubramanian<br /> <br />You have to grow from the inside out. None can teach you, none can make you spiritual. There is no other teacher but your own soul. <br /> <br />- Swami Vivekananda
Make bad loans, and if you get caught, you lose. They lost. Like Fannie Mae, Freddie Mac, Bear Stearns, Merril Lynch was bought for a fraction of what it used to be worth, Lehman wasn't worth enough, so it went bankrupt. AIG is being nationalized.
All the stocks are wipped out, some of the employees may keep their jobs, lots of them will be fired or laid off.
Moral of story: don't make bad loans.
Joined: Jun 16, 2008
Does these financial buyouts/bankcrupts in US has any impact in India ?