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6 big banks, 6 big shake-ups

The mortgage mess has unleashed a restructuring wave as banks try to clean house.

Lehman Brothers
Lehman Brothers
What's shaking: The investment bank announced the closure of its subprime mortgage unit BNC Mortgage in August and cut 1,200 jobs as part of that move.

Cause of concern: The bank took a $700 million writedown when it reported third-quarter results in September, although its overall results exceeded Wall Street's expectations.


Merrill Lynch

Bank of America

Bear Stearns

Lehman Brothers

Morgan Stanley