September 15, 2008. Prestigious investment bank Lehman Brothers said yesterday will make an application for bankruptcy, and Bank of America has announced to acquire Merrill Lynch - two pieces of news, movie profoundly changed the financial landscape in the U.S.. The upper limit in the fast-paced changes in the roller coaster Wall Street weekend and threatened to move the U.S. financial market is reeling from the fate of other major financial firms and mortgage finance giants Fannie Mae and Freddie Mac. "This is a crisisDeeper than anyone apparently only a short time it was thought, "Peter Stein, 12 Asian Wall Street Journal deputy editor, told CNN. Lehman Brothers in a statement, 13 am planning to file for bankruptcy under Chapter 11 of U.S. bankruptcy law. In 158 years investment banks have reduced bad real estate bets - the value of its shares fell by 94 this year. Lehman Brothers collapsed after the wild, the highest on Wall Street's three-day battle managementAnd federal regulators, who are working to ensure 24-hour clock, still solve the financial crisis. End of this week, U.S. Federal Reserve had to intervene to try to calm the banking industry has announced plans to relax restrictions on the credit market. 10 major domestic and foreign banks agreed to create a consortium of financial companies troubled loans to 70 billion U.S. dollars of the fund. Source: edition.cnn.com
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