The latest crisis on Wall Street explained.
September 18, 2008
This week may very well have been one of the most volatile ones in Wall Street history. First it was the announcements on Monday that financial giant Lehman Brothers was bankrupt and Merrill Lynch was being sold to Bank of America; on Tuesday, to further complicate matters, one of the world's largest insurance company AIG was rescued by the Feds who also declined to lower interest rates. Business week Economic Editor PETER COY joins us to help explain what it all means for the national and global economy as well as for the average investor.
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