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What Just Happened on Wall Street?

Posted by: Carleton Sheets in Wall Street, Stock market, Merrill Lynch, Lehman Brothers, Freddie Mac, Federal Reserve, Fannie Mae, Credit crunch, AIG on Sep 17, 2008.

I am both shocked and amazed about what just happened to financial giants AIG, Merrill Lynch, and Lehman Brothers. The downfall of these seemingly stalwart icons in the securities industry is a blow to the financial powerhouses on Wall Street that will trickle down to the American consumer. My friends, it is a tough economic sea we are maneuvering in.

What does this mean in the "big picture"?

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