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Seven days that shook the financial world

September 20, 2008

Friday, September 12:

The trading week ends with the fate of 158-year-old Lehman Brothers in grave doubt. Its stock had fallen sharply due to fears over its financial condition. Paulson, Bernanke, and New York Fed President Tim Geithner begin a series of meetings in Lower Manhattan with top bankers in an effort to engineer a bailout of Lehman, which had bet heavily in the subprime mortgage market.

Two possible buyers emerge: Britain's Barclays and Bank of America.

Image: The headquarters of erstwhile investment bank, Lehman Brothers Holdings Inc. in Manhattan | Photograph: Mario Tama/Getty Images

Also read: Markets: What you should be watching now
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