The NYT.
In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, announced it will file for Chapter 11 bankruptcy.
The humbling moves, which reshape the landscape of American finance, mark the latest chapter in a tumultuous year in which once-proud financial institutions have been brought to their knees as a result of hundreds of billions of dollars in losses because of bad mortgage finance and real estate investments.
But even as the fates of Lehman and Merrill hung in the balance, another crisis loomed as the insurance giant American International Group appeared to teeter. Staggered by losses stemming from the credit crisis, A.I.G. sought a $40 billion lifeline from the Federal Reserve, without which the company may have only days to survive.
I can't see what the problem is.
Just bomb the everliving shit out of Tehran.
Duh. Easy. Why are we still even talking about this?
UPDATE. Look, wiseasses, if you aren't going to even bother to familiarize yourselves with the nuances and grand strategy of John McCain's domestic policy proposals, why should I even pretend to take you freaks seriously? It's your duty as citizens to educate yourselves as to our options in these complex & difficult times.
Un-frickin-believable.
