Has the crisis of confidence in Lehman Brothers passed? Well, the spotlight is no longer as intense, as the white-hot fixation moves to Fannie and Freddie. There remain some issues and lingering worry about its viability as a counterparty, but the Wall Street Journal's blog notes some good news, relatively speaking. Analysts at Sanford C. Bernstein and Morgan Stanley have told clients that they think the company can weather the current storm. Both, of course, rest their case to some degree on the firm's access to the Fed discount window. And it's easier to be mildly upbeat about the stock when it trades at a discount to book value. Given recent events, no one will conclude the firm is in the clear. You can expect some significant moves soon to shore up even more capital.  

For more:
- here's the WSJ item

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