edf40wrjww2CF_PaperMaster:Desc
The developments of the past few weeks are likely to change our financial markets as much as any short period in most of our lifetimes. Here's a rundown and description of recent key events.
August. 23: Lehman Brothers loses 3.9$ billion due to subprime mortgage crisis. Lehman announces a loss of $3.9 billion and their intent to sell off a majority stake in their investment-management business, According to this fact many other banks also lost money due to the sub prime mortgage crisis.
Sept. 7: Government Seizes Fannie Mae, Freddie Mac?Government takes control of the mortgage giants. This has happened because as the greatest problem for every bank is having all its costumers asking for their money, by nationalizing the two greatest mortgage giants “Fannie Mae and Freddie Mac” the people are more confident with there money and therefore dont ask for it.
Sept. 11: Lehman Brothers Says it’s Actively Looking to be Sold?Lehmans stock price falls an other 40% and therefore reports that it is in talks with Bank of America and Barclays for the company's possible sale. However, both Barclays and Bank of America ultimately declined to purchase the entire company. This is due to the subprime mortgage crisis.
Sept. 14: Merrill is sold to Bank Of America for 50$ billion &nbs ...