Bank of America bailed out Merrill Lynch by purchasing it for $50 billion.
The problem with Americans is they are quick to lay blame or do a knee jerk reaction especially the politicians for obvious reasons. The stock market closed up 141 points today.
There are plenty of investment banks in good financial status so no great loss in the matter of Lehman Brothers. Not a single dime of taxpayers money should be used to bail them out. Moot issue anyways since they filed for Chapter 11 Bankruptcy. Wall Street needed the rude awakening and adjustment.
It's the greed stupid!!!!
