Wall Street a very bad day

AP Photo: Lehman Brothers Headquarters in New York City is seen Saturday, Sept. 13, 2008.

This a very bad for the market, as Lehman Brothers filed for Bankruptcy
Wall Street awakes to 2 storied firms falling
Monday September 15, 7:01 am ET
By Joe Bel Bruno, Christopher S. Rugaber and Martin Crutsinger, AP Business Writers
2 storied Wall Street firms fall as US financial markets roiled by further shock waves

NEW YORK (AP) -- When Wall Street woke up Monday morning, two more of its storied firms had fallen.

Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court after attempts to rescue the 158-year-old firm failed. Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in a $50 billion all-stock transaction.

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http://biz.yahoo.com/ap/080915/financial_meltdown.html