Meltdown flashback 11/9

Negotiators want to have a deal in place by the time Asian markets open for trading on Monday morning. The fear is that Lehman’s banking partners could stop lending money that the 158-year-old firm needs to fund its operations. As the day wears on, potential bidders— including Goldman Sachs—signal they’re not interested. Nobody knows what might be lurking in Lehman’s books because of its heavy exposure to securities based on now-souring mortgages.

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