Sunday, September 14, 2008
Any last requests?
Wall Street Prepares for Potential Lehman Bankruptcy
Wall Street prepared for a potential Lehman Brothers Holdings Inc. bankruptcy after Barclays Plc said it pulled out of talks to buy the firm and the government indicated it wouldn't provide funds in a resolution. Banks and brokers today held a session for netting derivatives transactions with Lehman, or canceling trades that offset each other, in case the New York-based firm files for bankruptcy before midnight New York time.
Posted by stevie dee @ 08:38 PM (498 views)
3 thoughts on “Any last requests?”
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little professor says:
Bye Bye Baby.
How could they save Bear Stearns and yet stand by and watch Lehman go down the toilet?
planning4acrash says:
Maybe they don’t have the funds and are holding out to protect the bond insurers now that they are starting to go down? The bond insurers are the real crux of the issue here.
Stevie Dee says:
p4ac.. oil in my view is being used to off set bad news.. i say this in relation to market reaction to hurricane icke.. and seeing how oil price reductions in recent weeks have off set “bad news” vis-a-vis DJIA.. expecting oil to fall like a stone.. that’s my guess.