Banking, finance, and taxes
Lehman (LEH): Barclays Now Most Likely Bidder
Published:
Last Updated:
Sorting out the potential aspects of a rescue of Lehman (LEH) has become like working on the puzzle of a Rubik’s Cube. The front runner in the bidding is probably Barclays (BCS), but that raises the question of why none of Wall St.’s other major firms is not fighting for a piece of the action.
Perhaps the rule of "the greater fool" is at work.
According to The Times of London "Barclays’ key investors, Temasek of Singapore and China Development Bank, have shown willingness to back a deal that would put Barclays in the top tier of financial institutions."
The key to making progress toward a buy-out may still be having the US Treasury guarantee the value of some of Lehman’s assets so they do not swamp a buyer if there value continues to plunge.
Paulson cannot put up money for a Lehman rescue without appearing to have backed down from a pledge to keep the US taxpayer out of the picture. The average citizen may become tired of owning pieces of the nation’s large financial and auto firms.
If Paulson sticks to his promise, Lehman will fall to pieces tomorrow.
Douglas A. McIntyre
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
