Market Turmoil Hits Home
In the last couple of weeks, the nation has been taken on a roller-coaster ride by Wall Street: Investment bank Lehman Brothers collapsed. Merrill Lynch sold itself to Bank of America. Federal regulators rescued American International Group. And after an initial emergency deal for Citigroup to acquire Wachovia, Wells Fargo took over the bank, which is the largest in Florida. Much of the turmoil is being linked back to bad mortgages and a credit crunch. This week on Florida Matters, we'll bring the conversation back to the Tampa Bay area and talk about the ripple effects we’re seeing in this area.