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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

+0.6%

Nov 7 4:00 PM EST

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To: elmatador who wrote (21544)	8/23/2007 1:38:16 AM
From: oldirtybastard	Read Replies (2) of 217592

Lehman been busy picking up high risk assets -g- Fears for US loans rock Northern Aug 22 2007 Western Mail ATTEMPTS by Northern Rock to soothe concerns about its exposure to recent market turmoil failed to lift its share price yesterday. The banking group’s shares slipped 2% – the biggest drop of any stock in the sector – as investors gave a lukewarm reaction to a statement from Northern last night highlighting its “minimal” exposure to US sub-prime mortgages. It said it had £275m in US collateralised debt obligations, or mortgage-backed securities, accounting for 0.24% of its total assets. The Newcastle company added, “These investments are intended to be held to their maturity and none have been downgraded or had their outlook changed by any rating agency.” The group also said it sold £465m of commercial property loans to a division of Lehman Brothers, following a similar sale to Lehman worth £838m in June. It said the latest disposal reflected its previously stated strategy of removing higher-risk assets from its balance sheet. icwales.icnetwork.co.uk Lehman also on the hook here with ASN buyout: Indeed, in the Archstone-Smith deal, Tishman Speyer put in only $250 million in equity. Lehman and its financing partners Bank of America and Barclays Capital, put in $4.85 billion of equity and so-called bridge equity, much of which they need to sell to investors. Lehman and its partners must also come up with $17 billion in debt financing at a time when credit markets are having trouble swallowing real-estate debt. online.wsj.com finally: Lehman held $79.6 billion of mortgages and mortgage-backed securities on its books as of May 31, up 38 percent from six months earlier, according to its quarterly earnings filing with the Securities and Exchange Commission. It originated about $32 billion of residential mortgages in the period and almost doubled its commercial mortgage loans to $32 billion

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