Bloodshed at Wall Street

Last week has seen the bloodshed at wall street,as the big-wigs in the financial services domain have filed of bankruptcy and some are on the verge of filing the same, biggest of them is of Lehman Brothers who have filed for Chapter 11 bankruptcy in the US, biggest banruptcy in the mankind and Merril Lynch being bought by Bank of America for US 52 $ billion and we can expect some more companies to follow suit, with AIG, world's largest insurance company with respect to assets has asked the Federal bank for US 500 $ million loan and Goldman Sach posting a 70% loss in the current quarter..., so we can see the writing on the wall that big-wigs of the industry has succumbed to the Credit Crunch, the symptoms are strong for a Great Global Economic Recession/Slowdown which has already started showing its aftermarks, with employees being laid-off globally and the number are huge, on an average around 50,000 people would lose their jobs.....