Markets in turmoil, banks teetering, Merrill Lynch is selling out to B of A, Lehman Brothers in limbo and near bankrupty... Money doesn't talk, it swears.
UPDATE:
Lehman filed Chapter 11 this morning.
$613 billion in debt.
Yeah. Deregulation fixed everything...
2 comments:
Everyone of the officers of these failed companies who gambled their investors money, not to mention the world economy, on something as risky as sub prime mortgages should go to jail. They have been rewarded very well for their success, now let the punishment for their failure be severe. Maybe that will send a message to current and future financial institutions.
I'm with you.
Ain't deregulation grand?
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