Lehman may be filing for bankruptcy before midnight tonight: Bloomberg

Wow. If true, this is a game changer. Hold on to your hats.


http://www.bloomberg.com/apps/news?pid=20601087&sid=aNMh_8NRE6QM&refer=home

 

120 min and counting...

 

Reuters reporting:

Bank of America no longer in bidding for Lehman Brothers: report 3:48pm EDT

BOA and Barclays gone from bidding now...who's left?????

 

I can envision the headline going to cross Bloomberg in a couple hours.

4:58pm EST Bloomberg: --Breaking-- New York Federal Reserve agrees to provide 130 billion in non-recourse loans to facilitate takeover of Lehmans.

 

mORE LIKELY they will provide you a pushcart, so you can begin your new career as an Apple salesman.


This will all be worth it if we can get some Federal prosecutions and confiscation of all gains out of these imbeciles

 

yen futures just traded +2%. how often we see 2% gaps

 

Nobody wants to get caught with their pants down:

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.

``The purpose of this session is to reduce risk associated with a potential Lehman Brothers Inc. bankruptcy filing,'' the International Swaps and Derivatives Association said in a statement today. The ISDA includes 218 banks, brokerages, insurance companies and other financial institutions from the U.S. and abroad.

 

uae crackers
the islamic facists that ya all hate.

 

"I am Elmer J Fuld, millionaire. I own a mansion and a yacht."

 

No worries guys. Paulson & Bernanke Inc. will step in as cash is no problem for them.....not.