No Government Funding For Lehman

The Treasury Department is adamantly against any plan to rescue Lehman Brothers that would put taxpayer money at risk, according to a person familiar with the matter.

Negotiations over the fate of Lehman are underway right now, with officials from the Treasury Department and the Federal Reserve playing a pivotal role. But the government's assistance is mainly confined to offering waivers of certain banking regulations rather than any direct financial role, the person said.

September 11,We will never forget

Lehman To Lose $3.9 Billion

Lehman Brothers said this morning that it expects to lose $3.9 billion for the third quarter, or $5.92 a share. The bank will spin off spin off to its shareholders $25 billion to $30 billion of commercial mortgages into a new public company called to be called Real Estate Investments Global. LEH also has plans to sell a majority stake in its investment management division. And they are "committed to examining all strategic alternatives," including a complete takeover (though no one actually said that). According to CEO Dick Fuld, "Intense public scrutiny has been a distraction for clients and employees."

Take A Load Off Fannie

Lehman Shares Spike Downward

For a second day in a row, Lehman Brothers shares are getting pounded downward. The stock is off more than 30 percent as I file this entry, and had traded as low as $8 a share earlier this morning.

Before He Trades a Carrie Underwood Parody

End of an era

The Treasury Department announced Sunday a plan to bail out and recapitalize collapsing home mortgage giants Fannie Mae and Freddie Mac in one of the biggest government rescues in U.S. history.