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Lehman Sues JPMorgan For Holding 'Financial Gun' To Its Head

Lehman Brothers bankruptcy estate has filed a multi-billion dollar lawsuit against JPMorgan Chase, accusing its former rival of coercing Lehman to hand over an additional $8.5bn in collateral in the days leading up to its bankruptcy in September 2008, which triggered a liquidity squeeze that contributed to the failure of the firm.

Barney Tips Wall Street The Wink

Representative Barney Frank, the man tasked with leading the Congressional talks to merge the US House and Senate financial reform bills, has said that the provision in the Senate bill that requires commercial banks to spin off their derivative operations 'goes too far'.

Bankers Start To Crawl Out From Under Their Rocks

Hey, it seems it's not so bad being a banker these days. Almost 18 months after the anger and rhetoric over bonuses and the financial crisis hit the highs, bankers are apparently crawling out from under those rocks and are even confident enough to admit what they do for a living.