Sunday, October 19, 2008
Back
SO much has happened since I wrote here last..market has crashed in a crazy fashion. And it has affected everyone..almost everyone! Oct 1 to Oct 10, Dow crashed by 2400 points or 2400/10800 = 22%!!. Lehmann Brothers going bankrupt really started this downfall. LEH went down as nobody agreed to buy (Fed couldn't force a deal like they did with Bear Stearns). Merryl Lynch followed and was swallowed by Bank of America. Goldman Sachs and Morgan Stanley, the only 2 surviving investment banks of the golden american financials era, became bank holding companies. Meaning they could now accept deposits like commercial banks. The regulation era is back...
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