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Article: The new kings of Wall Street; One year after the fall of Lehman, a new elite rises.(News)
- Article from:
- Investment News
- Article date:
- September 14, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Aaron Elstein
On Sept. 16, 1920, at precisely one minute after noon, Wall Street was literally shaken to its foundations when a massive bomb exploded outside J.P. Morgan's headquarters, killing dozens and injuring hundreds more.
Pockmarks from the blast are still visible.
On almost the very same day, 88 years later Sept. 15, 2008 Wall Street was rocked again. Shock waves reverberated around the globe as Lehman Brothers Holdings Inc. collapsed into bankruptcy, a teetering Merrill Lynch & Co. Inc. raced into the arms of Bank of America Corp., and two days later, American International Group Inc. was taken over by the federal government. ...