The Washington Post is reporting that the Fed and Treasury are helping Lehman Brothers sell itself. This blog does not normally post breaking news, but I find this surprising. After bailing out Freddie Mac and Fannie May, I thought the Fed was going to let the market take care of Lehman. I guess not. In its typical late week into weekend fashion, Fed and Treasury:
officials are hoping a deal will be in place this weekend before Asian markets open on Monday, according to sources familiar with the matter.Hopefully this will help markets, but one has to wonder how many more tricks the Fed and Treasury have up their sleeves. The presidential candidates need to stop worrying about what pig is wearing lipstick and start talking about financial markets that may soon start to mirror Fannie, Freddie, Bear and now Lehman.