From what is usually a shrewd corner of cyberspace – Naked Capitalism. (HT Lemmy)
A couple friends of mine from LEH trading desk called me this a.m. to say that mgmt has taken employees aside to let them know that the end should come in next 24-48 hours. Ratings agencies apparently told them that the steps were not sufficient to prevent a d/g, and LEH mgmt asked them to hold off for a day or so to give them a chance to resolve situation (with sale of company).
Apparently GS is willing buyer, but is buyer of last resort from LEH’s perspective, b/c they would keep very few LEH employees.
Uncheckable in the current environment – but a measure of the febrile chatter circulating dealing rooms on Thursday.
For what it is worth, FT Alphaville understands (ie knows) that this idea is a non-runner. As one commenter notes below — where’s the justification in cost/benefit terms?
One further, random nugget for British readers: just one more session like the last three and Lehman will be capitalised at less than our own dear Alliance & Leicester.
Lehman in depth – FT