Posted by: Myself | September 15, 2008

Great[er] Depression !

About 5 months back a search on 5 largest US I-banks would have fetched results something similar to

Bear Stearns, Goldman Sachs, JP Morgan Chase, Lehman Brothers, Merill Lynch

Big names, almost a dream for anyone up for big buck jobs i guess !

Now 3 of them are history.

Bear Stearns : Sold to JP Morgan for mere $10 per share with a 52 week high of $133  !

Lehman Brothers : BANKRUPT [period]

Merill Lynch : To be taken over by BofA.

All of them survived the great depression of 1929 and couldnt survive 2007 subprime. Means situation on American front is so bad that it surpasses the 1929 as well ?

In today’s world where economy like India is hugely dependent on US economy does it mean bad news for us .. or will it open new doors of rising power centers like BRIC ?

Great depression was triggered from the US and soon engulfed whole world. Yet again the world economy seems to be goin the american way !

I am no expert in finance here so cant comment on anything except for waiting, to see how this whole drama of yet another great american follies unfolds.

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Responses

  1. How can you forget Morgan Stanley… in your top 5 list ? 🙂

  2. @ Ravi
    I was expecting it from u panditji …. that was my perception of top 5 sometime back. MS is definitely on top of it list now 🙂


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