WASHINGTON (AP) - With the global financial system holding its
collective breath, the U.S. government is scrambling to help devise
a rescue for Lehman Brothers and restore confidence in Wall Street
and the American financial structure.
An official from the Federal Reserve Bank of New York said
Saturday deliberations have resumed with leading Wall Street
executives and top U.S. financial officials.
They include Treasury Secretary Henry Paulson, Timothy Geithner, president of the New York Fed, and Securities and Exchange Commission Chairman Christopher Cox.
They were meeting on the heels of an emergency session convened Friday night by Geithner - the Fed's point person on financial crises.