In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, hurtled toward liquidation after it failed to find a buyer, people briefed on the deals said.
Hey but John McCain told me he is for reform, so I feel better.
Update I: Bonus stupidity from the McCain econ crew. (h/t Ben Smith). On the very day this happens, Donald Lushkin a McCain adviser writes an op-ed in the Washington Post (which ran the turd) entitled “Quit Doling Out that Bad-Economy Line.”