Lehman Shock Waves Hit European Bourses

Buying Lehman Brothers was a risk Barclays ultimately refused to take, adding to investor fears about the state of Europe's finance industry

When U.S. Treasury Secretary Henry Paulson called Barclays President Bob Diamond on Sept. 12 and asked him to consider buying Lehman Brothers, both the U.S. government and Barclays (BARC.L) knew that the London-based bank could not consummate the deal over the weekend without U.S. government help.

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