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Wall Street, USA: Merill Lynch & Lehman Brothers has sent the Dow Jones into a tailspin, what does this mean?

Thursday, July 24th, 2008
Sustagurl2 asked:


I’ve read the articles & seen the news clips regarding the demise of Lehman Brothers & Merill Lynch, does this mean in layman’s terms?

It is evident, this is not great news, considering the mortgage/foreclosure crises, the high cost of gasoline, Hurricane Gustav & Ike, the Midwest Floods, Credit Card debt, etc.

The state of this country is in shambles, to say the least!

Please explain to me in the simplest form(s) what the demise of these companies means to the welfare of the US economy!

Thank You Kindly.

Jackie

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