Highlights of the past week

• Lehman Brothers goes bankrupt.
• AIG, toubled US Insurer rescued by Fed : Fed to inject upto $85 billion, and retain around 80% stake in AIG.
• Merrill Lynch bought by Bank of America. This deal thought to be brokered by the Fed in order to save Merrill Lynch.
  
• FNM, FRE rescued by Fed. The plan is that the US govt will keep injecting money in order to maintain the networth of these GSE's positive.
  
• Rupee continues downfall versus dollar. Ends up at two year low. FII's continue to pull money out of Indian Markets. Interestingly the Domestic Institutions (DII) have started buying equities (i.e. they have been net buyers of equities in the past couple of days).
  
• Oil drops to below $95. However oil drop fails to cheer world markets.