Lehman Brothers stock dropped precipitously Tuesday on concerns the bank won’t be able to raise needed capital. Then, kicking the company while it was down, Standard & Poor’s put Lehman’s credit rating on watch because of that decline in share price. Now Cramer’s thinking this stock will either be taken under like Bear Stearns or just go belly up.
Last Friday, Cramer urged Lehman to use the weekend to broker some kind of deal to help the company. But come Monday – despite all the developments with Fannie Mae and Freddie Mac – nothing had materialized. Cramer fears Lehman’s missed its chance. And unlike Dick Bove, the Mad Money host doubts there are any potential buyers for Lehman Brothers.