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Morgan Stanley, perhaps in an effort to quell investor fears that it was on similarly shaky ground as Lehman Brothers, pre-announced its third-quarter earnings yesterday, surprising analysts with census beating results.
At a press conference early Monday morning, John Thain, chief executive of Merrill Lynch & Co., insisted that the firm’s employees supported being taken over by Bank of America of Charlotte, N.C.
Barclays Capital (BCS), one of Britain's largest banks, is nearing a deal with Lehman Brothers to buy its core broker/dealer business, and is in talks to sell its investment management unit to one or more private equity firms.
The $20 billion loan AIG was allowed to borrow against itself yesterday didn’t have much of an impact after S&P, Moody's and Fitch cuts its credit ratings last night.