No Barclays Bid? By Jim Cramer About this article: Now that we know there is no Barclays bid, should we just presume no bid? Sure seems that way. Without a buyer of Lehman Brothers we will have chaos and dislocation, and whatever firms have provided financing to Lehman will have to take hits larger than they possibly can, and we will see what happens when a major owner of mortgages goes under. Lehman owns hard-to-value assets and it borrows a lot of money to finance that inventory. We don't know who is lending to it, but theoretically, the Federal Reserve could lend the new entity the money it needs for a disorderly -- not orderly -- liquidation. (You would only get an orderly one with a real buyer.) Obviously anyone owning mortgages takes a hit tomorrow with no buyer for Lehman. But how big a hit? I think the missing element here is that Lehman was the worst... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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