Sunday, September 14, 2008

ISDA reverses 14 trillion in derivatives

http://www.nytimes.com/2008/09/15/business/15lehman.html?_r=1&hp=&pagewanted=print&oref=slogin In one the most extraordinary days in Wall Street's history, Merrill Lynch is near an 11th-hour deal with Bank of America to avert a deepening financial crisis while another storied securities firm, Lehman Brothers, hurtled toward liquidation, according to people briefed on the deal.

SUNDAY[!]: One of the most dramatic days in Wall Street history...

LIQUIDATE: Banks, Brokerages Prepare for Possible LEHMAN Bankruptcy...
ON THE BRINK...
BARCLAYS Abandons Talks...
BANK OF AMERICA NO LONGER BIDDING...

Feds Balk at putting up taxpayer money...
CEO hubris contributed to meltdown...