Lehman (LEH) Seeks Fire Sale As Pressures Mount
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Shares of Lehman Brothers (NYSE: LEH) are under pressure again today, down another 15%, as the company tries to orchestrate a fire sale in the face of mounting pressures.
Bank of America (NYSE: BAC) is said to be in the lead to buy Lehman, but it is unclear if they will buy the entire firm without government guarantees on Lehman's large debt, something the government may not be willing to accommodate.
The U.S. Treasury Department and the Federal Reserve are said to be involved with the Lehman sale, but to what level is uncertain. It is being reported the U.S. government will not provide any money for the sale.
A sale is expected to be announced this weekend before Asian markets open Monday morning.
Bank of America (NYSE: BAC) is said to be in the lead to buy Lehman, but it is unclear if they will buy the entire firm without government guarantees on Lehman's large debt, something the government may not be willing to accommodate.
The U.S. Treasury Department and the Federal Reserve are said to be involved with the Lehman sale, but to what level is uncertain. It is being reported the U.S. government will not provide any money for the sale.
A sale is expected to be announced this weekend before Asian markets open Monday morning.
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