Barack Obama commented on the upheaval on Wall Street today saying it is ”the most serious financial crisis since the Great Depression.”  He also links it to Bush.

“This country can’t afford another four years of this failed philosophy,” Obama said after the shock-wave announcements that financial giant Lehman Brothers was filing for Chapter 11 bankruptcy while titan Merrill Lynch was being bought by Bank of America for about $50 billion.

Read the rest of this entry »

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, reports the New York Times.

For more details on this story, visit here.