Sunday, September 14, 2008

Lehman Brothers goes bankrupt

Two words come to mind as I watch the weekend headlines get more ominous: uh oh.

It's unbelievably frightening how institutions formerly thought to be inviolable are falling like dominoes as the sub-prime mortgage mess in the U.S. evolves into a global issue.

I feel sad for the thousands of folks who will be hit by this. And for the countless others who will get caught up in the inevitable ripples. I guess the old adage about not being able to get something for nothing continues to apply. Maybe next time sanity will prevail before institutions play fast and loose with the rules.

Nah, that'll never happen. Pity.

2 comments:

kenju said...

I can just imagine what my mom and dad would be saying about these latest developments in the world, Carmi. I'm trying not to be too fearful. Luckily I have no money invested, so if the market crashes, I'll be okay.....LOL

{i}Post said...

My husband works for Merrill Lynch, well, now Bank of America. I can't tell you how sick I felt when I woke to the news today. Hopefully his (our) future is secure, but one never knows in these situations. I just keep trying to breath in and out and see what the future holds for us.

I just thank God that someone had the sense to know they were better off being bought out instead of going belly up.