The failure of Lehman Brothers, one of the financial pillars of our economy is a travesty.
When you speak about an institution, Lehman fits the description. Their failure is once again a harshly visible sign, that our world is changed forever.
Let us not forget Merrill Lynch, Formerly Merrill, Lynch, Pierce, Fenner and Smith.. This is the worlds largest retail brokerage house, and a bastion of comfort for widdows and children for decades. Now sold at distressed prices to The Bank of America, a part of the American financial landscape is disappearing.
WHAT A MESS.
My dear friends, I don’t want to be a gloomy Gus..er Charlie.. there is more to come, and the next wave is going to hit more directly at consumers, with credit card interest rates going up, and credit lines shrinking, soon the public will have to run to cover interest and fees.
Not good!!!!!!!!!!!!!!