From Venerable to Vulnerable
U.S. Helps Lehman Go Up for Sale Regulators Are Seeking a Weekend Deal Not Involving Public Money
By David Cho, Heather Landy and Neil Irwin Washington Post Staff Writers Friday, September 12, 2008; A01
The Federal Reserve and Treasury Department are actively helping Lehman Brothers put itself up for sale, and officials are hoping a deal will be in place this weekend before the Asian markets open on Monday, according to sources familiar with the matter.
The government is looking for an agreement that would not involve public money. One scenario that is emerging includes multiple suitors acquiring different pieces of the venerable investment bank, which has suffered staggering losses from its bets on real estate and mortgages.
________________________________________________________________
Henry and Emanuel Lehman would not be happy with the current state of their investment bank, but then 158 years is a pretty good run in American business. Founders (of nations…