Footage on CNBC

Bac has agreed to by Merrill Lynch. This has something to do with LEH. Obviously, BAC and all the other banks felt LEH could not be saved, the government was not going to step in. And in a more free market, it will be suvival of the fittest. Personally, I doubt if the is long term good news for financials although some will try to spin it that way.
 
Quote from turkeyneck:

Does anyone feel sorry for these LEH employees? Most of them are the biggest pricks on the Street.

not really-- i feel bad for the back office people. the brokers and ibankers can go screw themselves.
 
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