The impact of the global financial crisis on the Hungarian financial sector has been limited |
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FINANCIAL CRISIS Last Monday, in one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, filed for bankruptcy protection and hurtled toward liquidation after it failed to find a buyer. The Dow and 2-year U.S. Treasury hit with their biggest 1-day tumble since Sept 2001. On the same day, U.S. insurance giant A.I.G. sought
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