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Lehman Brother's Collapse
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Lehman Brothers are on the verge of collapse. Merill Lynch is sold. Washington bails out Freddie Mac and Fannie Mae. What's next for us?
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IMblessed

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Lehman Brother's Collapse

IMblessed

I am watching the evening news in shock as they show Lehman Brothers is near collapse and as these Wall Street Employees begin to clear our their offices on a Sunday night!
Lehman Brothers is a 158 year old investment bank.   Who would have thought that such a thing could happen? This event can send shock waves from New York all the way to Tokyo as bankers try to dump investments associated with Lehman Brothers.  It seems that potential rescuers have walked away from Lehman Brothers.

Then the News that Merrill Lynch has been sold to Bank of America.

I don't even want to know what the 401Ks are going to look like after this!   this same week, Washington had to bail out 2 large Mortgage banks, Fannie Mae and Freddie Mac to prevent the home loan system from spiraling to chaos. I'm not a financier, but this is sure spelling trouble to me. If these large banks have trouble holding on what are we the little guys going to do?
Shakey stocks, lost jobs, decreased revenue.   There is definitely going to be a trickle down effect of this situation.  Then we also have to ask, what other banks are headed in this same direction?   Its important that we, the little guys, recession proof our income as best as we can.

Take a look at this video.

This is definitely scary.