Lehman Brothers said it would file for bankruptcy protection and Merrill Lynch rushed into a $50bn takeover with Bank of America after a dramatic weekend on Wall Street. The Federal Reserve is making it easier for financial institutions to access Fed liquidity by easing terms on its borrowing facilities and accepting a much wider range of assets as collateral.
Wall Street was in turmoil on Monday as Merrill Lynch found shelter in a $50bn takeover by Bank of America and Lehman Brothers said it would file for bankruptcy protection.
No comments:
Post a Comment