Merrill, Wachovia Hit With Record Refinancing Bill

Aug. 26 (Bloomberg) — Merrill Lynch & Co., Wachovia Corp., Lehman Brothers Holdings Inc. and the rest of the U.S. finance industry are about to find out how expensive credit has become.Banks, securities firms and lenders have a record $871 billion of bonds maturing through 2009, according to JPMorgan Chase & Co., just as yields [...] continue reading world news