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Brokers Be Broking, Barclays Be Bidding

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As promised, broker-dealer services at Lehman Brothers are open for business, with dealer sales starting to offer large blocks of high yield bonds for cash settlement, in attempt to make some pennies by the close. Additionally, we're told that talks with Barclays continue regarding a sale of the broker-dealer business. Both parties are said to be willing but the Fed is worried about allowing Lehman to sell off its valuable human capital while leaving the toxic securities in place.