September 12, 2008 / 5:12 AM / 10 years ago

PRESS DIGEST - Wall Street Journal - Sept 12

Sept 12 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Lehman Brothers Holdings Inc LEH.N was actively shopping itself to potential buyers that include Bank of America Corp (BAC.N). The U.S. Federal Reserve and Treasury Department have been working with Lehman to help resolve the bank’s troubles.

* The credit crunch could be entering a critical stage, with the share prices of Lehman and other financial firms reeling even after the Fed slashed interest rates. Officials and market players are struggling to understand why the steps taken so far have not calmed the system.

* Washington Mutual Inc (WM.N) said it has enough liquidity and capital to ride out the banking crisis, as it sought to reassure investors.

* Individual investors who owned stock in Fannie Mae FNM.N and Freddie Mac FRE.N say they feel they were misled by Treasury officials prior to the takeover.

* Underwriters sold $228 million of Clear Channel Communications Inc (CCO.N) bonds, well below the level the banks had hoped to offload.

* Pilot fatigue has long spurred concerns, but the problem is intensifying as airlines try to squeeze more productivity out of pilots.

* Crude slipped $1.71 to $100.87, near a six-month low, as weak demand continued to drive the market lower, with only the arrival of Hurricane Ike in the Gulf of Mexico preventing steeper losses.

* Hurricane Ike rattled nerves up as the 5.6 million people living in and around Houston learned they could bear the brunt of winds above 100 miles per hour and a storm surge of 15 to 20 feet.

* Alaska Governor Sarah Palin said that Georgia and Ukraine should be admitted to NATO and that the U.S. should be prepared to go to war if Russia invades Georgia again.

* South African President Thabo Mbeki said he has brokered a deal between Zimbabwe President Robert Mugabe and opposition leader Morgan Tsvangirai, appearing to end a months-long political crisis there.

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