After appearing to be the front-runner for buying Lehman (LEH), rumors say that Barclays (BCS) has dropped out of the bidding completely.
The reason seems to be that the federal government refuses to back Lehman’s portfolio of commercial loans.
Treasury and the Fed are trying to close a deal to takeover or break-up Lehman before the Asia markets open at 7PM EST. Concerns are the if the matter is left open, financial markets could panic.
Douglas A. McIntyre
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After appearing to be the front-runner for buying Lehman (LEH), rumors say that Barclays (BCS) has dropped out of the bidding completely.
