For the past couple of hours, I've been gathering bits and pieces from various sites, trying to decide if htis dread I was feeling called for serious action. Here are my notes, just as I wrote them. Sorry I didn't write down the sources. They're out there...
Bank of America buys out Merrill Lynch for $44 Bill (others- $50 bill)
BOA already bought Countrywide earlier
BOA would control largest force of stock brokers, credit card companies, auto loans, bond & stock underwriting, merger advice, wealth management
CEO of Merrill Thalin knew if Lehman went down he wasn't far behind
US stocks plunge 300+ points as Asia opened
USD falls sharply
Europe falls 3.5-4%
Freddie Fannie USG bailout last week- USG says no more to Lehman/on your own
"flight to quality" -from AUS commonwealth
AIG asked Fed Res for a $40 bill bridge loan, knocking down 2 yr USG debt yields
Stocks in AUS, Sing, Taiwan drop 3-4%, India 5%
"markets tense and volatile over next 48 hrs"
Fed Res will cut rates Tues
105.88 yen to USD... 1.1165 Swiss francs to USD... 1.438 euro to USD