News for 10 September 2008

Lehman plans sales, sees $3.9 billion loss [Yahoo Finance]
Lehman Brothers said it plans to sell a majority stake in its investment management division and spin off commercial real estate assets

Analysts see Bear Stearns like fate for Lehman at worst [Reuters]
Lehman Brothers most attractive option is to reduce troubled assets and raise capital, according to at least two analysts

Fed loans may give Lehman breathing room Bear lacked [Bloomberg]
Access to Federal Reserve loans means Lehman Brothers , which lost half its value the past two days, may have breathing room that Bear Stearns lacked

Bank of America settles securities probe [Yahoo Finance]
Bank of America to buy back $4.5 billion of auction-rate securities, settles with Mass. regulators

Merrill hires former Lehman rainmaker [NY Times]
Merrill Lynch said on Wednesday that it has hired GeorgeH. Young (Woody) III, a veteran Wall Street banker