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Bank of America bows out
LATE FRIDAY NIGHT

Earlier in the week, Paulson had called Ken Lewis, the CEO of Bank of America, and asked him to take one for the team by looking seriously at buying Lehman. Lewis told Paulson in a call Friday night that Bank of America couldn't consider buying Lehman unless the government took around $65 billion off Lehman's books. When Paulson said the government wouldn't help, Lewis put his pencil down - for the moment. He did come to New York that weekend but was not at the Fed. Read more.

NEXT: Lehman's books get scrubbed
Last updated December 16 2008: 4:23 PM ET
The last days of Lehman Former Lehman Vice Chairman Barbara Byrne recounts the emotion and confusion surrounding the fall of the investment giant. More video
Fuld takes full responsibilityLehman Bros. Chmn. and CEO Richard Fuld told a congressional committee he would do things differently if he could turn back the clock. Morevideo
A $50 billion deal in 48 hours Merrill CEO John Thain explains how the deal with Bank of America and his firm came together so quickly over the weekend. Morevideo
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