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KDB To Buy Brothers?

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Reuters reports that woodland creature Dick Bove may have been on to something yesterday when he upgraded Lehman Brothers to a buy due to a possible takeover. A spokesman from state-run Korea Development Bank confirmed today that they are "studying a number of options and are open to all possibilities, which could include (buying) Lehman."
Bove told CNBC this morning that Fuld has taken too long to figure out what to do with the place and "if something doesn't happen this weekend, game on." He also noted that, unlike The Brow, John Thain has been doing a great job at Merrill Lynch. So that's nice. Humanity and all that.
KDB says buying Lehman a possibility [Reuters]


Remember When: Lehman Brothers Was In A Position To Tell Korea Development Bank To Suck It?

Those were the days. Related: Korea Development Bank Ends Talks For Stake in Lehman (September 10, 2008) Earlier: "The Bros Always Wins"

Lehman Brothers Thought Fight To Stay Alive Was A Battle Of Good (Them) Versus Evil (Everyone Else)

As some of you may recall, a month after Lehman Brothers went under, the House Committee on Oversight and Government Reform released an interesting email Dick Fuld had sent to LEH vice-chairman Thomas Russo on Saturday, April 12, 2008, circa midnight. Dick had just come back from a dinner with Hank Paulson and was so excited to relay the details he couldn't wait 'til the next day to get in touch with Russo, who he apparently viewed as his "teacher." Fuld said his key "takeaways" were that the government loved Lehman, that Paulson wanted to "kill the bad hedge funds" (like those diabolical shorts Fuld knew were to blame for his problems), and that while the then Treasury Secretary appeared to have a "worried view" of Merrill Lynch, Dick got the sense that Paulson thought Lehman was in terrific shape. Per the bankruptcy documents put online last week, here's how the rest of the conversation between Fuld and his Sensei went.