One Year Later, Lehman Aftershocks Still Linger
Despite a growing bullish sentiment, the crisis in the mirror is closer than it appears.
What a difference a year seems to make.
After a furious market run off March lows, the dark days of September 2008 seem to be fading in investors' rearview mirrors. Yet it has been just one short, albeit eventful, year since the 158-year-old Wall Street icon, burdened with billions in bad real estate holdings, filed for Chapter 11 bankruptcy protection after failing to raise new capital or rouse a possible suitor. On the same day, Bank of America (BAC) agreed to acquire a faltering Merrill Lynch under government pressure in a now-controversial deal.
Jason Stipp does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.