Lehman, Merill, goes down under.. Others waiting..

For 158 years, symbol of US capitalism, Lehman Brothers just went down under meekly without a murmur ..... It was a clear illustration of how greed, arrogance and pride can eat even the mighty of the Wall Street.  The CEO Richard Huld would be a lone person now, his arrogance and pride has paid off well.. !! Henry, Emmanuel and Mayer Lehman would never have thought that the merchant bank which they set up in 1850 would go up in smoke taking with it almost $650 billion, a crisis which was precipitated by the 9/11 bombings of WTC, the resultant sub-prime resulting from an exhortation to help rejuvenate the US economy and so on .. . But these banks gave the loans on doubtful credentials to unworthy individuals and the result is for everyone to see... Eating pride and hurt by the sub-prime crisis, Merill Lynch got itself rescued by Bank of America for $50 billion... just 25 % of its true asets.. I can understand the mental state of  the employees in these companies ... HP also has announced a major job cut of 25,000 internationally. Satyam in India announced job cuts of about 5000 last week. What will happen to the investments of Lehman and Lynch in India and other parts of the world. ?  The beginning of the end ?? Hopefully no and hopefully yes !! Greed and arrogance has to pay for itself finally... This incident could hurt FII investments in India and rest of the world. The flight of FII from the country has already pulled the Bombay Sensex by 300 points yesterday. The IT majors can expect tough times with low IT budgets for companies and hence low money in the making. Now Enron, Lehman, Merill Lynch, tomorrow Citi, BoA and so on.. The list could get interesting in the coming days .. Worth the wait .. ge..