Wall Street CEOs meet at the Federal Reserve Bank of New York for an Emergency Meeting to Save Lehman Brothers (and others)

Over a dozen Wall Street CEOs meet at the Federal Reserve Bank of New York (with Treasury Secretary Hank Paulson, Fed Chairman Ben Bernanke, and NY Fed President Timothy Geithner) for an all-hands-on-deck meeting. Their assignment is to come up with a plan to save Lehman Brothers, the nation’s fourth-largest investment bank, or risk the collateral damage that might follow in the markets. They also scramble to save Merrill Lynch, another icon of Wall Street, and global insurance giant American International Group (AIG), which insured a lot of now-worthless mortgage-backed securities.