The Tumbrils Roll at Dawn

Original article by Mike Whitney, subtitled Lehman Gone; Merrill Lynch Swallowed Up; AIG Going… Who’s Next for Madam Defarge?, via counterpunch.com:

Bank of America is buying Merrill Lynch for $45 billion, AIG needs an emergency $40 billion bail-out from Uncle Sam to stay afloat, and Lehman Bros is kaput. Whew! The financial world has been turned upside-down overnight. It’ll be a rough day of trading ahead.”

I’m at work, so I’m not going to add much, other than to point out that it looks like AIG may be the next big player to fall – and it’s the 18th largest company on the planet.  Atrios/Eschaton has some coverage of this.

It looks like we’ll have several interesting days/weeks/months/years/decades/centuries coming up to keep following this financial mess.

As Atrios states so clearly: Wheeeeeeeee!

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  1. Ah…capitalism!

  2. “thought to be” in talks with AIG, according to Bloomberg.

    Looks like a rumor to me…but if it’s true, he’s looking for fire sale terms.  Here’s the link, FWIW:

    http://www.bloomberg.com/apps/

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