Search results
Results From The WOW.Com Content Network
By early 2008 asset-backed and financial-sector commercial paper made up 56% of its portfolio. The September 15, 2008 bankruptcy of Lehman Brothers raised concern about Reserve Primary's holdings of Lehman-issued paper, which then made up 1.2% of its portfolio, as well as its other financial-sector paper. Among money market funds, Reserve ...
Lehman quickly became a force in the subprime market. By 2003 Lehman made $18.2 billion in loans and ranked third in lending. By 2004, this number topped $40 billion. By 2006, Aurora and BNC were lending almost $50 billion per month. [2]:129. Lehman had morphed into a real estate hedge fund disguised as an investment bank.
The collapse of Lehman Brothers (headquarters pictured), the fourth-largest U.S. investment bank, on September 15, 2008, is often considered the climax of the 2008 financial crisis. The TED spread, an indicator of perceived credit risk in the financial system, increased significantly during the crisis. It spiked sharply in August 2007, remained ...
Dudley proposed a "Maiden Lane type vehicle" that he explained to Valukas would hold $60 billion of Lehman's illiquid assets, supported by $5 billion of Lehman equity and $55 billion in financing ...
For premium support please call: 800-290-4726 more ways to reach us
Apparently, Lehman had to route Repo 105 transactions through a British affiliate because no law firm in the United States would offer a legal opinion on the accounting treatment Lehman wanted to use.
If a fund's NAV drops below $1.00, it is said that the fund "broke the buck". [8] For SEC registered money funds, maintaining the $1.00 flat NAV is usually accomplished under a provision under Rule 2a-7 of the 40 Act that allows a fund to value its investments at amortized cost rather than market value, provided that certain conditions are ...
The iconic triple-arch, steel-truss bridge opened in 1956 as a toll bridge run by Kansas City. Tolls were ended in 1991 and the city transferred ownership of the bridge to MoDOT in 1992.