U.S. Treasury Secretary Henry Paulson is against any use of government money to bail out Lehman Brothers Holdings Inc., a person familiar with his thinking said Friday.
Lehman Brothers was racing to find a buyer two days after it laid out a restructuring plan it said would raise badly needed money it lost on bad bets in real estate holdings. The No. 4 U.S. investment bank has lost almost $7 billion in the last two quarters alone, primarily because of wrong-way bets on mortgage securities and other risky investments.
The person said Paulson, who played a major role in engineering the government-back Bear Stearns bailout in March, believes the Lehman …
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