A quick roundup of what's crossing on the screens and terminals.
From the Wall Street Journal:
Barclays Walks from Lehman Deal; Likelihood for Transaction Narrows
From the New York Times:
Lehman Heads Toward Brink as Barclays Ends Talks
Lehman bankruptcy chance spurs emergency derivatives trading session
Let Lehman file for bankruptcy
LEHMAN DEATH THROES
"Bad Bank" Fix Silly: Lehman (LEH) Should Sell Or File For Bankruptcy
What a Lehman Bankruptcy Filing Might Look Like
From Market Movers:
Lehman: Is Bankruptcy an Option?
From FT Alphaville: Lehman Links
- The ever-timely Alea has an academic paper on how holders of CDS and other derivatives contracts cannot immediately impose their own rights like other creditors in an insolvency, because of the systemic risk.