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The insude scoop: Lehman is cooked



September 14, 2008 – Comments (0) | RELATED TICKERS: LEH , BAC

I just spoke with a friend of mine who works for a bank who is involved in the Lehman
Brothers dicsussion and they said that both Bofa and Barclays are holding out for the government support that JP Morgan got with the Bear deal and as of right now Paulson and friends aren't willing to get involved other than in facilitating the negotiations.  The government opened up this pandora's box by helping out on Bear, Fannie, and Freddy and now they are having a tough time closing it. 

It looks like there is a very, very good chance that the Lehman deal won't get done tonight and that it might not be able to make it for much longer without having to file for bankruptcy.  If this does indeed happen, and I would be willing to put money on the fact that it does, it could put Mr. Market in a very bad mood tomorrow.


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