The fourth-largest investment bank in the US Lehman Brothers

Politics & Business / Money And Finance

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The fourth-largest investment bank in the US Lehman Brothers

Lehman had incurred losses of billions of dollars in the US mortgage market. The move threatens to deal a further blow to the global financial system, as banks unwind their deals with Lehman. Merrill Lynch, also stung by the credit crunch, has agreed to be taken over by Bank of America in a dramatic weekend of events for Wall Street.
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