What If There Is No Deal?

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Let's contemplate the worst case scenario for Lehman Brothers: what happens if we all pull into our desks on Monday morning to discover that there is no deal for Lehman. We've heard that the reluctance of Hank Paulson's Treasury Department to provide a backstop for the deal and the burden of due diligence pose a serious risk to a deal being executed. Could Lehman survive next week with out a deal in place? Could it survive Monday?

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