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Lehman Bros, Merrill Lynch, and now Goldman Sachs (!) and Morgan Stanley are expected to be on the chopping block too.
Along with Bear Stearns, these are the BIG ones. We are on the edge of a major meltdown.
We can lay this at the Republican's feet, but frankly I'd rather have it not happen and be stable and let them take credit for a good economy than have the economy tank and have someone obvious to blame it on.
Goldman Sachs, in particular, has a god-like status in the financial world.
I just lost my job last Tuesday (no, I'm not in the financial sector) but all around me it seems like finances are shakier than they probably have been since the Depression.
If you have money and know what to do with it, you might make out, but the rest of us are in for a bumpy ride.
I hate to be so conspiracy minded as to think Bushco ran this into the ground so they could pick stuff up for pennies on the dollar in a fire sale. It would seem to me a dangerous way to make money. A good economy behooves them too.
Hold on to your ass, guys and gals. It's going to be quite a day/week.
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