With the blessings of US Federal Reserve, either the financial biggies are being bailed out or they are taken over by their peers. The exception being Lehman Brothers who could not find a partner to infuse funds and eventually went bankrupt.
Investors are waiting with baited breath as the list is swelling day by day. Market talk is that some more financial majors may also meet the fate of Fannie and Freddie, Merrill & AIG.
$500 billion has already been wiped out arising out of the losses relating to the US sub-prime mortgage woes. IMF forecast says the losses may touch $1 trillion.
Image: A Wall Street sign on the New York Stock Exchange.
Also see: Special: Lehman Brothers goes bankrupt | US turmoil and its impact in India | Lehman Brothers files for bankruptcy
Text compiled by V.R. Vinod Kumar
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