lehman bankruptcy website

How did Lehman, Bear Stearns, the company will receive all in trouble?

I see on the news that Lehman is bankrupt, Stern was wearing a survival kit paid by the taxpayers is not good Merril, and AIG is on the "abyss." Have all depend on these companies, which strongly on the housing market? What is AIG bad there when they are not part of the housing market? Anyone know a website with the answer?

Mortgage bundles were sold to Lehman, AIG and others. The mortgage problem was a direct consequence of the reduction in mortgage interest rates and a liberal movement to make new funding available to home buyers who are not as marginal wage earners and speculators were creditworthy. So these "interest only, no down payment" loans have been and, surprise, they all have failed. The agency is always to sell the house because that's their job. Just to kill right on the floor a lot of bad debt had been created, the liberal branch of the Congress demand that loans be made available to subsistence wage earners and players. BTW: Bear Stearns was bought by Chase. Merrill Lynch announced the merger into Bank of America, yesterday.

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