What happened when

Lifted from comments from reader H-Bob:

What was the actual precipating event causing the collapse of Lehman, Merrill and AIG at this time ?

On September 8th, the news was about Fannie Mae & Freddie Mac without any hint about Lehman, Merrill and AIG.

While the subprime mortgage bonds have been an issue all year, why did everything come to a head last Thursday/Friday ?
H-Bob | 09.17.08 – 5:34 pm | #