The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ChanceIs who wrote (127692)	6/7/2008 12:45:39 PM
From: Peter V	Read Replies (3) of 306849

The capital raising is expected to come as Lehman, led by chief executive Dick Fuld, discloses a second quarter loss, the first in its history as a public company, driven by markdowns on mortgage related assets and a decline of $600m to $700m on certain hedging positions. Lehman has consistently maintained that it does not need to raise capital. However, one person briefed on Lehman’s plans said the bank wanted to announce the capital raising as soon as possible to bolster investor confidence in its finances and wrong-foot short sellers. Who smells bullshit? "We don't need capital, but just to screw with the shorts we are going to have some guys give us $5-6 billion. And since we are on shaky ground, we'll have to give them a super-sweet deal. But no, we really don't need the money." If you believe this, I have some great Florida real estate I'd like to sell you. .

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