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| Lehman on the Ropes? |
| 2008-06-15 |
| Lehman Bros has been consistently listed on the internet as the next big investment bank to go with a shotgun marriage. TFA: Senior executives at Lehman Brothers, the embattled Wall Street securities firm, have been summoned this weekend for a series of meetings as the firm prepares to release second-quarter earnings on Monday and speculation swirls that the firm may be sold to a larger bank, CNBC has learned. |
| Posted by:badanov |
| #1 Wouldn't surprise me. They make a lot of money in fixed income products. And a lot of the money in fixed income was from asset-backed securities. Mortgages, car loans, credit cards - all of the things that are defaulting at high rates because of lax underwriting, resulting in major reductions in the value of bonds created out of these assets. |
| Posted by: Zhang Fei 2008-06-15 13:53 |