Lehman Brothers Chapter 11

Wow, today was such a bad day for financial markets. Dow dropping 500+ points in a single day. If recession hasn't happen yet, it definitely being giving a big push by the markets. This drop scares a lot of people as this has some effect on all our lives. Lehman Brothers filing for Chapter 11, well Chapter 11 is Bankruptcy, but not the one where you company disappears entirely, at least not straight away. Chapter 7 is the one where the company dissolves right away. Chapter 11 means it will still be operational but very limited as it try to restructure the company or hope for a buyout. It just means it's holding out to live as long as possible as it can. Anything is possible for this company. Currently there are other companies facing the same problems, but all these companies are waiting to see what happens with Lehman Brothers, they are hoping the government or someone will save it, so other companies can follow suit.