“I own Merrill and Lehman stock. Should I panic?” – the Washington Post reports Wall Street’s latest shake-up involving the collapse of Lehman Brothers, the weakening cash position of AIG and the purchase of Merrill Lynch is forcing average investors to question where to go from here.
Securities and Exchange Commission spokesman John Nester tells the Post there is no need to worry about money market accounts or holdings invested through Merrill Lynch or Lehman Brothers.
“Nothing that happens on the holding company level can imperil or threaten a customer account,” Nester said. “The firms are never allowed to and don’t reach into customers’ money.”