The (Lehman RIP) Day Today 16 Sept

* Summers withdraws from the race to be Fed chairman after key Democrat senators, emboldened by Syria deference to Congress, warn he won’t pass muster {NSN MT7B286JIJUZ <go>} * WSJ: Other candidates aside from Yellen are Kohn, Ferguson, Geithner (who says he doesn’t want it {NSN MT797C0YHQ0X <go>}) or even ex-Bank of Israel Stanley Fischer

* Syria’s Govt hails Russian-brokered deal as ‘victory’

* The man who warned of the credit crunch, BIS former chief econ Bill White, says “this looks to me like 2007 all over again, but even worse” {NSN MT65KE3HBS3K <go>} * BIS also says bank lending to emerging mkts surged to record levels in Q1

EUROPE * Merkel boosted by CSU Bavaria win {NSN MT6KEW07SXKX <go>} * ECB’s Praet says ECB has room for maneouvre – could reduce the “corridor” {NSN MT7BIW6JIJUS <go>} * Germany working on plan for banking union without treaty change

5 Years to the day since Lehman went under

* NYT: Why Lehman wasn’t rescued * 25 scariest moments of the crisis * What are Lehman top brass doing now? * Time: Wall Street won and it could all happen again

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