Monday, September 15, 2008
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.
