Is The Worst Yet To Come?

I don't post often about the financial markets, but everyone needs to take note of the fact that investment banking house, Lehman Brothers filed for bankruptcy this morning. Also in separate articles the New York Post is reporting that Bank of America has purchased Merill Lynch for at least $44 billion, and that Insurance powerhouse AIG is trying to avoid bankruptcy.

It appears that this credit crisis is going to be much more devastating than we ever thought, and former fed chief Alan Greenspan said yesterday that this could be a once in a century disaster.