NYT: In frantic day, Wall Street teeters. " ... Administration officials acknowledged this week that more bank failures are inevitable, and the main protection for depositors — the Federal Deposit Insurance Corporation — is likely to exhaust the reserves it has built over the years from bank insurance premiums." WSJ: "The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. faced the prospect of liquidation, and Merrill Lynch & Co. was close to a deal to sell itself to Bank of America Corp."

FT: Wall Street banks fight for life.

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Posted by Laura at September 14, 2008 09:09 PM