Grim news

The days financial news is displayed on the ABC news ticker in New York's Times Square, Monday, Sept. 15, 2008.When Wall Street woke up Monday morning, two more of its storied firms had fallen. Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court after attempts to rescue the 158-year-old firm failed. Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in a $50 billion all-stock transaction. (AP Photo/Mary Altaffer)
Mary Altaffer, AP
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