Emergency Meeting Between U.S. Officials, Wall Street Execs

Last night, the Federal Reserve Bank of New York "held an emergency meeting" between heads of Wall Street banks and officials including Treasury Secretary Henry Paulson, NY Fed President Timothy Geithner, and SEC Chairman Christopher Cox. The officials want a plan to discuss the faltering markets as it continues to batter financial institutions, and, per the NY TImes, "Geithner told the participants that an industry solution was needed, no matter what, and that it was not about any individual bank." This comes as a deal to save Lehman Brothers might not happen this weekend. One financial services firms labeled the big banks "toxic."