Lehman Brothers files for bankruptcy and Merrill Lynch is bought by the Bank of America for $50 billion dollars. Who would have thought that within 6 months there would only be two of the Big 5 investment banks left. If something as big as Lehman Brothers can fail, who is safe? The gigantic farce of financial derivatives is slowly being unravelled! They always seemed slightly dodgy anyway. I would be quite scared if I was living in America. Nonetheless, exciting times for finance students!