The collapse of Lehman Brothers sparked widespread fear amongst investors as Wall Street suffered its biggest one day loss since September 11. The failure of the last ditch effort to save one of the world's preeminent veritable financial institutions coupled with the shotgun sale of Merrill Lynch has caused great uncertainty. For now, the future of the world financial markets remains a mystery.
Questions over how far reaching this crisis will spread and which organisation is the next to go are unanswered and will continue to be raised. There is no doubt that the world as a whole is still loaded with debt. The process of unwinding this debt will take some time.
The consequences of the fallout from the contagion may well be immensely severe.
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