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Seven days that shook the financial world
September 20, 2008
Saturday, September 13:
Talks on a possible Lehman buyout continue. The would-be rescuers look to the government to take on some of the risk, as it did in the shotgun sale of Bear Stearns to JPMorgan Chas in March and the effective nationalisation on Sept. 8 of mortgage giants Fannie Mae and Freddie Mac.
Government officials hold fast that there will be no federal bailout. Talks are inconclusive.
Image: A view of Fannie Mae headquarters | Photograph: Karen Bleier/AFP/Getty Images
Also read: Are your retirement accounts safe?
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