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Financial tsunami swamps the world
September 17, 2008
Merrill Lynch saw the writing on the board and decided to act. In the process it sold out to Bank of America for $50 billion. Lehman's CEO Richard Fuld, however, disregarded the inevitable leading to the investment bank's demise.
Image: The partial logo for Merrill Lynch's headquarters is seen in New York. | Photograph: Nicholas Roberts/AFP/Getty Images
Also read: All about the 6th Pay Commission report
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