Another one bites the dust ...

Mark this date. Once in a century as someone put it .... Another BIG firm issued bankruptcy today. Lehman Bros, one of the biggest investment bank in the world, filed Chapter 11.

Since subprime mortgage crisis happened last year, there are already so many firms got hit badly. Just name a few, Bear Stearns (acquired by JP Morgan Chase in March 2008), Freddie Mac and Fannie Mae (bailed out by US Government on September 7th, 2008), and Merrill Lynch (bought by Bank of America). I think there would be more to come. All eyes are now on insurance company AIG and saving and loan firm Washington Mutual. Will see ...

What happen to the financial market? Greed or bad investment led to this ...