NEW YORK - The fourth largest U.S. investment bank, Lehman Brothers Holdings Inc., prepared to file for bankruptcy Sunday after Barclays PLC and Bank of America Corp. (BOA) pulled out from talks to buy the firm.
Barclays, the U.K.'s third biggest bank, and the BOA withdrew as they could not get guarantees from the government or other Wall Street firms to protect against potential losses on Lehman's assets.