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martingale

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martingale

Re: hmp660 post# 767

Wednesday, 09/17/2008 3:59:31 PM

Wednesday, September 17, 2008 3:59:31 PM

Post# of 10366
I watched that CNBC interview with Robert Diamond CEO of Barclays. Obviously he thought very highly of Lehmans and he
got a super low price. He said that acquiring all of Lehman
would have required them to have more cash reserves than they could raise on their balance sheet per government regulations.

The FEDS would not backstop them and so they were forced to withdraw their bid. So they cherry picked what they could handle. He was a very bright guy IMO.
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