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To: tom pope who wrote (64089)	9/11/2008 6:54:49 PM
From: Keith Feral	Respond to of 118717

I hope LEH can get a transaction done without intervention. I would like to see Lehman bite the bullet without any taxpayer involvement. However, everyone is looking at the Bear Stearn's deal as a boilerplate for destruction and backstops. But, the good part of that deal is the preferred shareholders were made whole. WM preannounced earnings after the close. Stock was up a little after hours. AIG needs to come clean soon too. Same with MER. The market can handle just about any thing these guys have to say. AIG and MER need to come clean like WM. Nothing can be as bad as the market is expecting for either company at the moment.