Monday, September 15, 2008

Are the Fundamentals Still Strong?

The financial world became an even bigger mess today. Lehman Brothers, one of the world's largest brokerage firms, filed for Chapter 11 bankruptcy protection today. My former employer, Merrill Lynch, agreed to a take over by Bank of America because they know that it's the only way they can avoid bankruptcy. One of the largest insurance companies in the nation, AIG, is currently begging for up to $75 billion in loans so it can stay solvent.

In the middle of all of this, I can't help but wonder: are the fundamentals of our economy still strong?


It's days like this when I'm glad I left the financial services industry.

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