[Cid_Yama]

Senior executives at Lehman Brothers, the embattled Wall Street securities firm, have been summoned this weekend for a series of meetings as the firm prepares to release second-quarter earnings on Monday and speculation swirls that the firm may be sold to a larger bank, CNBC has learned.

The weekend meetings are unusual, say people close to the firm. The executives summoned to headquarters include everyone from Stephen Lessing, the head of Lehman private client group to Scott Freidheim, the firm's co-chief administrative officer.

The lower profit margins combined with the possibility of further writedowns of losses could force Fuld to sell the firm. At the very least, people close to Lehman expect Fuld to make some announcement about Lehman's future on Monday when it releases earnings.

I remain skeptical of all those glowing comments from bottom fishers, and I still question the viability of the company itself. This is not a call for bankruptcy. Rather it is a call that Lehman will not stay together in one coherent piece.

One thing I do know for certain is that the world's largest experiment in creative financing has failed miserably. The fallout has just started. Bottom fishing at this point is likely to be punished severely.

link

[Jack]

Intriguing! Thank you for the heads up!

[Cid_Yama]

Yeah, Bear Stearns also had unusual weekend meetings, just before being offered up to JP Morgan for $2.

[Ivan_M]

heh.