LEH

I'm really confused by what the press is talking about when they say "dealer-broker" about Lehman? I would have guess brokers, but what is is exactly?

http://cgi.ebay.com/Lehman-Brothers_W0QQitemZ110289318047QQihZ001QQcateg...

Looks like they are truly exploring ALL options

Apologies for arriving late to the party! As I'm not currently in NY, I am a bit behind the news, but, boy, when I opened up WSJ/Dealbook/Dealbreaker/etc. this morning, what a an interesting mix of stories! I'm a was a bit flooded with mixed emotions: schadenfreude that my rival was about to go under, but compassion for my friends at the firm; sympathy that one of the firms for which I was rooting would be acquired by a second-tier shop; and growing concern over whether this will eventually affect me personally (even outside of NY, I'm seeing significant stagnation in dealflow...).

Sympathies to those affected, and I will try to remain a bit more tactful than usual, as it does suck to be in such a situation. If you want to hear my real thoughts, however, send me a PM and I'd be glad to share... as a hint, it involves the absurdiites and detriments of affirmative action.

So the question is, just how bad will tomorrow be? How bloody will tomorrow be.