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Latest development of Lehman crisis, Sunday morning
JJTrader - Sun, Sep 14, 2008 - 10:55 AM
The Journal said that under one scenario, Barclays PLC or Bank of America Corp. would buy Lehman's valuable assets, such as its equities business, while the more risky real-estate assets would be merged into a another entity that would contain about $85 billion in souring assets.
it appears few banks are in a position to provide enough funding. Many banks are inclined to preserve capital ahead of third-quarter and year-end cash preservation moves. Also, the report noted, banks don't want to see rivals such as Barclays or Bank of America pay so little for the valuable assets.
Citing people familiar with the matter, the Journal said Bank of America, until today considered Lehman's most likely savior, seems to be less interested in a deal. Neither Barclays nor Bank of America wants to buy all of Lehman without some government assistance, the Journal said.
Full story from March Watch:
http://tinyurl.com/6hn9bv
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Latest development of Lehman crisis, Sunday morning
JJTrader - Sun, Sep 14, 2008 - 10:55 AM
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