Lehman Brothers' overnight collapse has left a heap of trouble in Europe, setting off an alarming domino effect.

It all happened over a span of three weeks: what began with the U.S. subprime problem has evolved into a dilemma of tsunami-like proportions. It has destroyed some of the most well-established names on Wall Street and taken down a number of large European firms, such as Fortis Bank, Bradford & Bingley (B&B) and Dexia.

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