Lehman Brothers failed

There were a lot of news about Lehman Brothers these days, then finally it filed for bankruptcy.
Bankruptcy of the big, famous and over 150 years old company...

I had worked for Lehman. I worked in the mortgaged-related department. Yes, it's exactly the section in connection with the subprime loan problem which caused the bankruptcy. The department became one company, kind of Lehman's subsidiary. I checked its website and it said that they didn't deal with new loans any longer. Oh. It was very good that I didn't continue to work there.

It was said that Bank of America would buy Lehman, but BofA chose Merrill Lynch. Merrill, which is also a big and famous company, was amalgamated. Wall Street must be stormy situation.

Actually, I was involved in Merrill in business, too. They have their own gym in their office. I thought only the company like Merrill could do that.

A few years ago, who could imagine that the companies like Lehman and Merrill fell into such situation? It's really scary. The affairs in this time can happen to any companies. There is no solid company in the world.