LEH deal done ?

BOA walks on LEH.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aW2k6NiDhqJ0&refer=home

 

So like the article says, the netting session going on right now doesn't address all the potential problems, just the derivatives. The assets issue remains.

And I guess we'll know pretty much anytime now the results from that session. Anyone know anything about this? Any reason that all the participants can't offset any imbalances at this session?

 

...and the plot thickens...

 

BOA talking merger with MER.

http://online.wsj.com/article/SB122142278543033525.html?mod=hpp_us_whats_news

 

Those 3pm quotes were totally meaningless - did not reflect the market at all.

 

NY times announcing Leh WILL file for BK.

ES down 38.

Good times.

 

Fed will cut rates for sure.

 

crackers, crackers.
now is the time to buy the es.

 

Futures down 293 right now?

 

Crude: -$2.02 to 99.16

Gasoline: -.10 to 2.85

Nat Gas: +.114 to 7.48