Man, this pisses me off. This is just ugly...especially on LEH part. If not for their $600 mil questionable 'income' off deriv losses and likely moving close to $600 mil to L3, LEH may not be around right now. Goldman, the 'cleanest of the bunch' would probably be the dirtiest if not for accounting tricks. This is as fragile of a system as it gets. These crooks are still monkeying with the numbers and everyone, including the Fed is turning a blind eye. -Best, Mr Mortgage
MORE LEHMAN NEWS - This company is in real trouble. Now is not a good time to be dumping commercial real estate.
Archstone-Smith sells properties to pay debt-WSJ...Last year Tishman Speyer Properties and Lehman Brothers Holdings (LEH) bought apartment owner Archstone-Smith, but no one said they'd have to sell off parts of Archstone to cover its debt. Now they are, reports the Wall Street Journal. Archstone has about $16B of debt that was used to finance the takeover.