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Originally Posted by PSH
With Lehman it definitely does not qualify affecting the national economy but the worry is all of the counter-party risk involved with Lehman on various financial instruments. I hear that the Feds aren't involved as of yet with Lehman and that there are 3 suitors: Barclays, B of A and HSBC. Expect the equity will go down to basically nothing (it is almost there) and then a firm or more than one firm will start to divvy up Lehman ......
WaMU, National City, Wachovia, Merrill, and hundreds of smaller financial institutions remain very questionable on their future outlook...
Its a mess.
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i saw they're pursuing a buyer. pennies on the dollar no doubt.