The Great Depression pt. 2?

I felt like I needed to post this because this situation affects everyone who visits this site. By now, I hope everyone has heard of the huge financial hit this country has taken within the past 72 hours. The collapse of Lehman Brothers, one of most powerful financial institutions in the world, recently filed for bankruptcy leaving thousands of employees unemployed. This affects more than those people who lost their jobs. It affects myself, you, your friend and anyone else you may know. Jobs in this country are hard to keep and even harder to come by. Reports are saying that 2009 will be worse than 2008 as far as finding employment is concerned and it will not be until 2010 that business will feel comfortable hiring again. Anywho, read this article that was published in the Los Angeles Times yesterday....

Lehman Bros., Merrill Lynch employees anxious about future

Workers at the two major investment banks are mired in uncertainty after the weekend's shake-ups.

By Geraldine Baum

NEW YORK -- A mixture of shock, anxiety and grim resignation settled over tens of thousands of investment bankers, brokers and other Wall Street employees Monday as they absorbed the news that two of the nation's major investment banks were vanishing in the turmoil roiling the financial system.

Just hours before the start of the workweek, Lehman Bros. Holdings Inc. said it was filing for bankruptcy protection and Merrill Lynch & Co. announced it had hastily agreed to sell itself to Bank of America Corp. The developments were dizzying to many, even in an industry accustomed to roller coaster shifts. Although reports of Lehman's potential collapse had begun to surface last week, Merrill Lynch's unexpected sale left its staff stunned.

"It's chaos here," said a broker at Merrill, who did not want his name used because the company had instructed employees not to speak to the media. "People are just flabbergasted."

Outside Lehman's Midtown headquarters on Seventh Avenue, stone-faced employees exiting the glass tower during their lunch hour were confronted by a phalanx of television cameras occupying both sides of the street. Most hurried past without speaking, some snarling when approached.

Click here to read the rest of this article (MUST READ!!!)