Wall Street's leading investment banks have rallied around ailing rival Lehman Brothers after the Federal Reserve Bank of New York urged them to support the institution in order to try and preserve financial stability.
# News from the banking and financial services sector
It is understood the New York Fed contacted key executives at a number of leading banks, including Goldman Sachs, Citigroup and Morgan Stanley, to discuss Lehman's situation over the weekend.
By yesterday morning, the banks' prime brokerage departments - which service hedge fund clients - were(L’articolo è disponibile previo sostegno)