Tuesday, September 09, 2008

What's left in Wall Street?

Bear Stearns, Merril Lynch, Citicorp, UBS, Washington Mutual, Fannie May, Freddie Mac and now Lehman Bros. What’s left in Wall Street?

Waves of selling wiped out nearly half of Lehman’s value in the stock market on Tuesday, leaving the firm, one of the nation’s oldest and largest investment banks, in an all-out fight for survival.

“He [Richard S Fuld, Jr., CEO of Lehman Bros] is dealing as if he has a whole deck of cards, when as he has none” – NYT reporters quoting a banker who has had recent dealings with Lehman, representing a potential foreign buyer.

How long can they live in denial?

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