By Elinor Comlay
Fri Sep 12, 2008 5:51pm EDT
NEW YORK (Reuters) – The crisis of confidence in Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) has led to fallout throughout the financial sector — especially for larger rival Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research, Stock Buzz).
The problem for Merrill is that short-sellers regard it as the next weakest investment bank after the crumbling Lehman and the crumbled Bear Stearns, which was sold at a firesale price in March.
Lehman and Merrill to pound already bloody job market
By Jonathan Spicer
Mon Sep 15, 2008 2:33am EDT
NEW YORK (Reuters) – The likely disappearance of investment banks Lehman Brothers and Merrill Lynch presents a double-barreled hit to an already wounded job market, and will likely depress salaries on Wall Street.
With Lehman headed for bankruptcy and Merrill swallowed by Bank of America, two of Wall Street’s four pillars have crumbled overnight.