Financial meltdown accelerates – who is next as the economy gets ready for severe depression – the next big bombshell
Peter Oberois
Sep. 15, 2008

Lehman Brothers filed for bankruptcy protection and Merrill Lynch agreed to a $50bn takeover with Bank of America after a dramatic weekend on Wall Street.

The financial meltdown accelerates as Republicans try to bring ‘change’ in themselves. The biggest bombshell is not what happened but what is happening behind the scenes.

Concern the $62 trillion credit derivatives market will unravel increased after Lehman Brothers Holdings Inc., filed for bankruptcy. Benchmark gauges of corporate credit risk rose by a record in Europe, and traded near an all-time high in North America, after an emergency trading session in New York yesterday where investment banks sought to minimize losses from Lehman's collapse. U.S. two-year Treasuries climbed, pushing yields below 2 percent for the first time since April, as investors sought the relative safety of government debt.

The ripple effect will astound every one that knows anything about investment and finance. The Wall Street is no longer the same we know. It is a suspicious pit where basic hypothesis and premises of financial engineering has gone sour.

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