Search results
Results From The WOW.Com Content Network
Several money funds and institutional cash funds had significant exposure to Lehman with the institutional cash fund run by The Bank of New York Mellon and the Reserve Primary Fund, a money market fund, both falling below $1 per share, called "breaking the buck", following losses on their holdings of Lehman assets. In a statement The Bank of ...
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 ...
According to bankruptcy examiner Anton Valukas, the seeds of Lehman's Sept. 15, 2008, bankruptcy were sown in 2006, aggressively fertilized throughout 2007 and 2008's first two quarters, and ...
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 ...
In the financial turmoil following the September 2008 bankruptcy of Lehman Brothers, just one month after Brown's death, the Reserve Fund saw a run on its investments after it marked down to zero the value of assets it had invested in Lehman's securities, forcing it to "break the buck", leaving investors who had held onto their investments in ...
In the two years since crisis gripped the financial world, surprisingly little has changed. In those perilous days in September, 2008, Lehman, Merrill Lynch and AIG fell like dominoes, and it ...
As part of his wide-ranging investigation into the collapse of Lehman Brothers Holdings, bankruptcy examiner Anton Valukas focused a lot attention on the business Lehman Brothers did with all the ...
Lehman Brothers Inc. (/ ˈ l iː m ən / LEE-mən) was an American global financial services firm founded in 1850. [2] Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide.