Crisis at WALL Street's.........

The American financial system was shaken to its core...Lehman Brothers Holdings Inc. filed for bankruptcy protection, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.The U.S. government, which bailed out Fannie Mae and Freddie Mac a week ago and orchestrated the sale of Bear Stearns Cos. to J.P. Morgan Chase & Co. in March, played much tougher with Lehman. It refused to provide a financial backstop to potential buyers...........Bank of America struck an all-stock deal to buy Merrill Lynch for $29 a share, or $50 billion..

so wat do u think abt this whole scenario (What went wrong in the financial system—and the long, hard task of fixing it)...
n wat wud be its effects on SENSEX.....???

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