Monday, September 15, 2008
Midday Report: U.S. stock indexes fall sharply on Lehman's demise
U.S. stock indexes fall sharply on Lehman's demise
U.S. stocks tank as Lehman Brothers files for bankruptcy protection and
Merrill Lynch & Co. sells itself to Bank of America Corp., unnerving
global markets and inciting further distress about other major financial
firms.
Fed sets emergency steps to ease strains; market bets on rate cut
The Fed assembles a series of emergency tools to head off panic,
expanding its loan programs and accepting a broader range of collateral
for its loans.
Economic Report: Industrial production drops 1.1% in August
Led by a big drop in auto production, U.S. industrial output plunges
1.1% in August, the biggest drop since Hurricane Katrina three years
ago.
Lehman files for bankruptcy protection in historic collapse
Lehman Brothers is to file for bankruptcy protection after a frantic
weekend of negotiations in which potential acquirers back away from a
deal and federal officials balk at committing taxpayer funds to help
save the Wall Street giant.
Merrill Lynch to be bought by B. of A. in $50 bln all-stock deal
Merrill Lynch & Co., navigating in a global financial storm, agreed to
be bought by Bank of America Corp. in an all-stock deal the companies
valued at $50 billion.
