Hints and tips:
...Anyway, this arrangement worked for a while, then unravelled in 2008 thanks to the influx of junky mortgage-related repo collateral that was rendered nearly worthless when Lehman Brothers fell....
...When the Reserve Primary Fund exposed investors to losses as the fallout from Lehman Brothers’ bankruptcy spread to an investment class considered to be among the safest, custodians of cash began to rethink...
...Henry, by now a director of Lehman Brothers, turned to me as we took a postprandial stroll down Sixth Avenue. “The trouble with Wall Street is that everything has become so complex....
...Brothers....
...Mortgage approvals have soared to their highest level since the collapse of Lehman Brothers....
...Lehman Brothers has sold the assets of its subsidiary Aurora Bank in a deal which should help generate about $1.5bn for creditors of the failed investment bank....
...In 2008, he used it to present his then-controversial thesis that Lehman Brothers would go bust....
...A specialist in bonds, Lehman Brothers had been a pioneer in the new wave of mortgage- backed securities that buoyed Wall Street in the 2002–6 period....
...The developments may not seem much to those outside the arcane world of securities clearing, the “plumbing” of markets that tends to get ignored until something goes wrong – like the Lehman Brothers default...
...After the bankruptcy of Lehman Brothers on September 15, 2008, financial markets had to be put on artificial life support....
...Sheila Bair, who chairs the Federal Deposit Insurance Corporation, has argued for prioritising the authority to wind up a large bank holding company in the event of its near-demise before anything else....
...The case of the investment bank Lehman Brothers proved exceptionally difficult, however....
...They appear, however, to become increasingly independent of that activity at turning points....
...In the recent financial crisis, exactly this sort of spillover resulted from the failure of Lehman Brothers, which led to heightened pressures on other investment banks....
...The shock of the Lehman Brothers default has pushed this risk in the over-the-counter (OTC) derivatives markets to the top of agenda of policymakers and lawmakers....
...In fact there are just two problems, say Rohatyn senior adviser to Lehman Brothers and former chairman of New York’s Municipal Assistance Corporation, and Ehrlich, president of ESC Company, the economics...
...Goldman and Morgan Stanley last week said they would give up their status as independent investment banks and apply to become bank holding companies, a change that would subject them to stricter regulation...
...In September, the Treasury and the Federal Housing Finance Agency placed the government-sponsored enterprises, Fannie Mae and Freddie Mac, into conservatorship, and Lehman Brothers Holdings filed for bankruptcy...
...But to deal with the Lehman Brothers’ situation, you have to have things like a much simpler resolution regime. One of the problems with Lehmans was that it lived internationally, but died nationally....
...Last autumn, the dramatic failure of one of the top investment banks in America – Lehman Brothers – shattered already fragile confidence and brought the international financial system to its knees....
...Analysts at Lehman Brothers project that mortgage defaults could reach $225bn during 2007 and 2008 and perhaps go as high as $300bn....
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