LAS CRUCES, N.M. -- Analysts call it the biggest financial crisis in years.

The nation's largest ever bankruptcy filing caused the stock market to take its biggest tumble since it first reopened after the Sept. 11 attacks. The impact of this Wall Street Crisis is being felt all the way to the borderland.

It's part Lehman Brothers filing for bankruptcy, part Bank of America acquiring another Wall Street giant, Merril Lynch. That's causing so much concern for investors, large and small.

After more than 150 years in operation, U.S. investment bank Lehman Brothers filed for chapter 11 bankruptcy. A scary day on Wall Street for many. Something that shakes up an NMSU professor of finance

“To have Lehman Brothers go out of business, to have Merril Lynch be bought by Bank of America is just unprecedented,” said Dr. Ken Martin, professor of finance at NMSU.

Some who have money in the stock market or retirement investments said it's just another day because the economy has been so poor.

“It worked its way up there and over the last few years it's just fallen down and now it's just more of a joke than anything,” said Chris Cable who had put money into an IRA for several years.

Lehman Brothers could not find a buyer, so $639 million is at stake, with thousands who will lose their jobs, and their investments.

“Those employees who had a lot of their savings tied up in their own company stock, the number I saw for Lehman Brothers was losses of $10 billion,” said Martin.

Others who aren't saving now, said this is the time to start looking at their future.

“Not right now, but I do plan on having like a little retire plan. I know there's not going to be enough money when I am eligible for my retirement,” said Melissa Maynez of Dona Ana.

Also Bank of America is buying out Merril Lynch, and financial Company AIG had bad news to offer investors when it took in $20 million through the state of New York. Martin said investors shouldn’t lose faith in the banking system altogether.

“I don't think our banks are going to close. I think our deposits are safe. The FDIC insures those deposits,” said Martin.

Martin said now is a good time to look at portfolios and make sure they are diversified to lower the risk of loss.