Bull Lynched
There are some events that happen once in a lifetime and they leave their mark forever. This week saw one such event in the world of finance - the stunning collapse of Lehmann Brothers and Meryll Lynch and AIG teetering and can drown anytime unless Fed steps in. Wall St, never had it so bad and raging bull in front of it, watching it helplessly. The decline started with the collapse and fire sale of Bear Stearns. The tsunami of sub-prime has swept away everyone on its way. The top five investment banks have been reduced to two and who knows how long will even they survive. Goldman Sachs, which looked stronger till recently, suddenly looks vulnerable. Rumours are that even Morgan Stanley is not safe and may merge with GS. These firms were the mecca of high finance and every MBA worth his salt dreamt to work there. The collapse has sent the world markets into a tizzy. Every country has been affected. Markets opened with trepidation and fear. Central banks of all natio...