Lehman files for bankruptcy protection in historic collapse

Date: Mon, 15 Sep 2008 17:04:00 -0400
Lehman files for bankruptcy protection in historic collapse

Wall Street struggles to adjust to a new industry order as Lehman
Brothers' bankruptcy filing rocked investors and pulled down financial
stocks around the globe.

Fed adds most cash since September 2001; Treasurys soar

The Federal Reserve adds the most money to the banking system since the
aftermath of the Sept. 11, 2001, terrorist attacks in the wake of Lehman
Brothers' bankruptcy, Merrill Lynch's demise and AIG's need for cash.

Economic Report: Industrial production drops 1.1% in August

Led by a big drop in auto production, U.S. industrial output plunges
1.1% in August, the biggest drop since Hurricane Katrina three years
ago.

Fearing its own collapse, Merrill sells to Bank of America

Merrill Lynch & Co., navigating in a global financial storm, agreed to
be bought by Bank of America Corp. in an all-stock deal the companies
valued at $50 billion.