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Treasury secretary issued ultimatum to Lehman Brothers

With Wall Street undergoing a major crisis, Deborah Solomon, Dennis K. Berman, Susanne Craig and Carrick Mollenkamp of the Wall Street Journal report that New York Federal Reserve Bank president Timothy Geithner, with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, told about thirty Wall Street executives with Lehman Brothers Holdings, "There is no political will for a federal bailout. Come back in the morning and be prepared to do something."

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