Monday, September 15, 2008

News Roundup: The Wall Street Meltdown Edition

With the stock market down more than 500 points and major investment firms teetering toward takeover or disaster, I'm giving over this space to a few of the news stories about the financial turmoil:

From the New York Times: Stunning Fall for Main Street’s Brokerage Firm


"The sale, if completed, would open a new chapter for Merrill, which was founded in 1914 and promoted the idea that anyone, not just the rich, should invest in markets."

From Credit crunch hits small businesses


"I was the type of business that in times like this people have to cut out," she explains. "More and more people had to let go of the convenience we offered to save money and instead make their own dinners, pack their own kid's lunches, do their own grocery shopping and eat less organically."

From Newsweek: How Worried Should You Be?

"With much of Wall Street and Washington in panic mode, investors and consumers might feel like they should be on the move, too. But what to do: Buy? Sell? Stuff the mattress? Head for the hills?Maybe just digest. There's a lot to swallow, coming off a weekend that saw the nation's housing-mortgage-credit crunch roll over some of the
nation's biggest financial firms."


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