Wow. What a weekend in the financial markets! Lehman Brothers has filed for chapter 11 bankruptcy, an emergency trading session was opened on Sunday, Bank of America is said to have struck a deal to buy Merrill Lynch, and AIG is looking at ‘options’ for business capital.
Phew. That all came out of left field eh? I mean no one could have predicted that excesses in credit markets would lead to problems like this right? That would be a feat worthy of a soothsayer, like predicting that overvalued housing markets would fall.
Anybody have some Gravol?