Pre Market – Lehman Rumor Sends futures market on Roller Coaster Ride
The story on the wires this morning is that the Korea Development Bank is ‘considering’ an option to acquire all or part of Lehman (LEH). The story coming off the wires says that the two firms have been in talks but have failed to reach an agreement due to concerns about the financial health of Lehman. Both companies have declined comment.
This story has sent the pre market futures running to the upside. Resistance is the wedge we broke out of earlier in the week and so far that resistance is holding. This is likely to be a wild day.
We also have Ben Bernanke speaking today..
More on this topic
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NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation
(naked capitalism, 3/12/10)
Frank Partnoy: Lehman Examiner Punted on Valuation
(naked capitalism, 3/14/10)
De[constructing/functing] Ernst & Young
(Phil’s Stock World - Members S..., 3/14/10)
It’s been a while since we have heard from Ben. Has he been in the shop getting his bolts tightened?