by Calculated Risk on 9/13/2008 06:19:00 PM

The WSJ reports: Lehman's Options Narrow, With Forced Breakup Possible

A sense of optimism that a rescue could be arranged today dimmed as a growing sense of gloom descended on Wall Street.

It appears nothing will be worked out today as the WSJ reports many executives have left the meeting. MarketWatch has a summary: Too late for Lehman?

A bankruptcy filing is possible:

Lehman has hired law firm Weil, Gotshal & Manges LLP to prepare a potential bankruptcy filing ...