They're not gonna let it fail with X multiples of 400 Billion in Credit Default Swaps owing. It would take down the System. They've already either hedged the CDS stuff or playing chicken with the FED/Treasury. No way they're playing roulette here. If the CDO go under, well, yea, it'll be another round of writedowns and some major pain in the Markets. But the analysts have already crunched the numbers and the majority presumed they can survive it.... The question is: who can't if they liquidate? Merrill Morgan? Who, Damn it?!
Only the Energy complex opened early today...equity index futures open at the regular time (5pm CST).
Bank of America no longer in bidding for Lehman Brothers: report 3:48pm EDT (reuters) Now BOA and Barclays are gone from bidding...who is left? Fire sale of Neuberger to Bain for a very low price (1/3 of what they wanted?)? Monday could be very bad...