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merrill: Wall Street Rocked by Credit Fallout; the Definition of a Flight-to-Quality - 09/15/08 12:19 PM
If there is rock & roll playing in lower Manhattan this morning, it is probably The Doors' "Peace Frog", as investors awoke to a market seeing financial giants Lehman Brothers, Merrill Lynch, and American International Group all discussed in badly negative news. 
Lehman, a troubled investment firm with major investments in the mortgage market filed for Chapter 11 Bankruptcy this morning.  Its stock has declined from over $65 at the beginning of 2008 to less than a quarter this morning.  The company had sought government intervention or an outside buyer over the past 10 days, but when none was forthcoming, found … (1 comments)

 

Dan Hartman

Providence, RI

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Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you! Locations of visitors to this page Site Meter


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