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After learning the details of the plan, the traders were unusually quiet, and the silence was broken only when Mohammed Grimeh, global head of emerging markets, stood up with a horrified look on his face. Instead, Nason told the group that Treasury had to concentrate its efforts on two fronts: obtaining the authority loans to suit bad credit to put an investment bank through an organized bankruptcy, one that wouldn But if Lehman was sold to Bank of America, the implications for his own firm, Merrill Lynch, would be enormous. Hence there is nothing surprising about the fact that the shocks endured by capital, especially private capital, in the period 1914

When I finally had a few minutes to deal with the Morgan Stanley situation, I called Chris Cox to market discuss manipulation. Even more important was Solow

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