The Two Personal Finance Lessons We Should Learn from the Demise of U.S. Investment Banks

Lehman Brothers Faces the Hard Truth

Lehman Brothers has been forced to face the hard truth.  It has filed bankruptcy and will be sold off for a small fraction of its book value of just six months ago.  Bear Stearns collapsed earlier this year.  Merrill Lynch has sold itself to Bank of America.  Other investment banks are on the brink but may survive.  Fannie Mae and Freddie Mac, although not investment banks per se, have been taken over for similar reasons.  Read more