Lehman seemingly finds NO BUYER … AUTSCH!!!
Domino about to start?
WSJ says, that Bank of America and Merill Lynch are in merger talks …

Another one bites the dust … ???
Rumors fly as Lehman falls another 40% on WSJ article of higher losses …
CDS spreads for Lehman reaches the Bear Stearns k.o. level …
Rumors of today … this was the reason for the squeeze into the close …
- Lehman will be taken by Bank of America and losses backstopped […]

Markets did their minimum and … after the usual bounce around month end …
Bad news comes in …
After AIG and Freddie Mac and Allianz yesterday (old stuff) …
today a new (known) hole was presented to investors …
Citibank will have to buy back their auction-rate securities … at least 7 bln$ of losses to […]

What a day … ugly squeeze on interest rate cut hopes and and shortcovering (big time) in the financial sector on Bank of America approaching Citibank for a possible merger … Citi said “NO” … so … they think … ooops … there might be now some value in the sector … Northern Rock will […]