Wall Street tum bles down.

The market is crumbling, financial earthquake, the worst financial crisis since the depression, these are the statement being made across the country today. Did Wall St. came tumbling down?

It was a dark and cloudy day on wall street, the market was shaken to it's core with giants like AIG, Merril Lynch amd Lehman Bros causing havoc today.

American Insurance Group(AIG) the world largest insurance company who's shares fell to $4.76 that a 60.8% collapsed, citing damage to the companies stock and the ongoing mortgage related problems. When companies like Washington Mutual largest S&L has their credit downgraded by financial agencies, they could possible go bankrupt, who's keeping an eye on them. There is crisis of confidence, banks have tightened up and not lending and loans are harder to get. All stemming from the flop of the housing market.

Lehman Bros shares sank to 21cents that's a 90% drop after filing bankruptsy in New York. Their bankruptsy papers stated it has a debt of $613 billion compared to$639 billion and over 100,000 creditors. No one was watching these companies, where was the regulatory body that should be on watch.

Bank of America bought Merril Lynch for $50 billion or $29.00 per share. They were attract to the company based on their 'wealth management' and would compliment to banks tradition belief.

These are question to ponder upon:

Who is going to bail America out of this financial mess?

Is America broke?

Is the economy heading for a recession?

When three powers are in the shooting lineup and has either collapse, been bought or begging for a bailout the you know the economy is at risk.