It's two for one weekend: BoA/CIC for Lehman and JPM for WaMu?

wow, FT says Bank of America, China Investment Corporation and JC Flowers are in talks to buy Lehman. I bet the negotiation is with Paulson. Does he want to look tough over 30B? What's 30B? 3% of the current debacle? Who are we impressing? Talk is that funding would come from a markdown of debt.

Amid rumors of an old fashioned bank run, now it is Washington Mutual that would be swallowed by JP Morgan over the weekend. Argh people! Slow down!!!

I got to Focus! Breathe! Focus! It's going to be a long weekend. No pun intended, but I am long over the weekend, could be badly burnt. Is it just me or does it feel PAST tipping point.

Comments

Unknown said…
Great, and I just ordered new checks from WAMU!
John M said…
It would be surprising if FDIC didn't take down somebody this weekend, but I don't hear any rumblings. Yeh, I think Lehman is gone tomorrow, but WaMu probably waits another week. Then AIG, about 2 to 3 weeks out.

Has it been only 6 days since the GSE bailout? The gasping-in-horror thingie about the derivatives that unwound on that event has barely started, let alone the regional banks that got caught holding the preferred.

This is an amazing mess.

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