Anheuser-Busch sells to InBev. The Government seizes Fannie Mae and Freddie Mac. And Merrill Lynch doesn’t want to be another Lehman Brothers (or worse, Bear Stearns).
This weekend financial giant Merrill Lynch agreed to sell itself to Bank of America for roughly $50 billion (about $29 per share) to avoid being yet another notch in the dismal economy’s bedpost.
The move followed a weekend of dramatic negotiations between federal officials and Wall Street as both Merrill Lynch and Lehman Brothers scrambled to find buyers. Merrill Lynch found Bank of America, Lehman Brothers was left – alone – at the dance.
Many “experts” this morning feel the move will help Wall Street show they are beginning to stabilize.
I’m sorry? How exactly does “having” to sell your company so you don’t go out of business equate to “things are looking great?” I think some experts need to put down the Krispy Kreme and find themselves a dose of reality!
Fine, I suppose this is where you look for some witty insights to my mind. A "bio" of sorts. Here is the deal... I ride motorcycles, smoke cigars, golf, kayak, fly, race my car through the mountains, write (a lot), and travel extensively. I am almost old enough not to care what other people think about me...almost. ~Godfadr
Meanwhile, homeowners who took mortgages they really couldn’t afford, falling for these “investment” schemes…………are just flat out screwed.
I think what disturbs me the most is that these are not just businesses “failing”; these are businesses run into the ground through greed and “speculation”.
I’m so tired of MY life hanging in the balance of a bunch of rich people playing russian roulette with our economy.
“We the people” need to start demanding accountability and STOP allowing these fools to get bailed out, to walk away with millions in “packages” when thrown out.