Following the March of this year the fifth-largest U.S. investment bank Bear Stearns was made acquisition by JP Morgan because it is due to the brink of bankruptcy. Yesterday, the Wall Street released alarming news again. The third-largest U.S. investment bank Merrill Lynch was acquired by the Bank of America in early 44 billion U.S. dollars. The fourth largest U.S. investment bank Lehman Brothers filed for bankruptcy protection because the abortion of negotiations on the holdings takeover.
It is difficult to foresee that within only half a year, the three of top five investment banks on Wall Street will collapse.
As a giant of Wall Street, the bankruptcy of Lehman Brothers' shock wave must spread to the entire financial market.
Originally Posted: China Business Daily
Author: Angulo Fu