Lehman Sells Neuberger Berman

Lehman's bankruptcy, which came six months after the fire sale of Bear Stearns, came at the beginning of a tumultuous month on Wall Street. The federal government has engineered takeovers of Fannie Mae (FNM Quote), Freddie Mac (FRE Quote) and AIG (AIG Quote) and regulators seized Washington Mutual(WM Quote) and brokered a sale of its deposits and assets to JPMorgan Chase (JPM Quote). Former investment banks Goldman Sachs (GS Quote) and Morgan Stanley (MS Quote) asked to be made into traditional bank holding companies in order to stave off a market attack on their shares.