Photo Credit: geishaboy500

Just saw this on ABCNEWS.com before I get ready to leave:

Bank of America on Monday began adding another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal that would create a bank offering everything from fixed-income trading to credit card lending.

The deal values Merrill at $29 a share. That represents a 70 percent premium over the brokerage’s Friday closing price of $17.05, but well below what Merrill was worth at its peak in early 2007, when its shares traded above $98.

Also big news in finances:

Lehman Brothers, burdened by $60 billion in soured real-estate holdings, filed a Chapter 11 bankruptcy petition in U.S. Bankruptcy Court after attempts to rescue the 158-year-old firm failed.

If I learn more, I’ll pass it on.

Update @ 12:45pm EST: BoingBoing has some great reader commentary on the financial news and CNBC has Wilbur Ross sharing his thoughts on possible opportunities for larger banks to pick up smaller regional banks .

• Use Allpoint ATMS to Reduce and Eliminate ATM Fees With the average ATM fee around $1.97, finding ways to reduce and eliminate ATM fees is becoming a bigger concern. While many banks charge non-customers surcharges, there are ways to save. I mentioned before, but I thought I might remind that ING Direct and other banks use Allpoint network......
• Weekly Round-Up: Wachovia & Citi Photo Credit:  TheTruthAbout... It's been a rough couple of weeks as the news keeps highlighting how big this financial crisis is now. The news is now focusing on Wachovia and a possible acquisition by Citigroup. I bank with Wachovia so I'll be on the lookout. I'm not too worried,......

• Wal-Mart Action: What You Can Do It is pretty common knowledge that Wal-mart offers such low prices in their stores by both forcing suppliers prices down and underpaying their employees, both in dollars and benefits. And according to SOME PEOPLE , people deserve to make such low pay and its their own fault they do. Well,......
• How to Protect Your Pension in the Credit Crunch As news of bank failures continues, and government officials are debating a $700 billion bailout plan, many consumers are starting to worry about the state of their pension plan. If you have it invested in the wrong stocks, you could end up losing it all, or at the very least,......