Lehman Brothers officially declared on Sunday that they will seek Bankruptcy protection. After Bank of America, and Barclays decided they were not interested.
Bank of America for Merrill? "people inside the company" from Merrill Lynch are allegedly in talks with Bank of America for a $25 to $30 per share buyout offer. This seems crazy to me with what we know about the prices of other similar money losing portfolios. How can these news sources even report such speculation?
AIG is trying to stave off credit downgrades that would force it to post more than $13 billion in collateral. They are seeking capital from buyout firms Kohlberg Kravis Roberts & Co, J.C. Flowers & Co, and China Investment Bank said "a person familiar with the situation"
No one seems to be talking about Washington Mutual, at least for now. Who is going to bail them out?
This sitution is getting worse before it gets better. The Night is Always the Darkest before the Dawn.
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