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Treasury and Fed Engineering Lehman Sale
Well whatdya know? Seems like another one bites the dust. As of 17:30 today, the Treasury Department and the Fed are brokering a deal to have Lehman taken private by Sunday. Here s the article from the Washington Post. At least it s another shot in the arm. Let s see how long this rally lasts? 4 hours [...]
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Special Report: Can Dow Hold 11,000?
The financial markets are in turmoil. Lehman Brothers (LEH), the nation rsquo;s fourth largest investment bank, filed the biggest bankruptcy in history this morning, defaulting on $613 billion in debt. Merrill Lynch (MER) sold itself to Bank of America (BAC) for $50 billion as the company bled $17 billion over the past four quarters. Plus, there ar....
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Risky Real Estate Deals Helped Doom Lehman
Significant losses that Lehman Brothers suffered from its part of the acquisition of Archstone-Smith, a national apartment portfolio, helped to bring down the investment bank.
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Lehmans techies start job hunt
As hard-up traders turn to eBay Lehman Bros techies chucked onto the pavement yesterday face a decent chance of sliding into new jobs quickly, which may go some way towards sweetening the bitter pill of not receiving a final pay cheque.…
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Derivatives Are Next
Lehman is Chapter 11, Merrill sold to BoA, now all the derivatives need to be unwound. This is huge and has never been witnessed before. According to AP: On Sunday, there was also an emergency trading session being held at the International Swaps and Derivatives Association to reduce risk associated with a potential Lehman Brothers [...]
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