Lehman in trouble?
- "Lehman (down $2.04 to $71.02, Charts, Fortune 500) shares were down 3.1 percent on those concerns, analysts said, and investors bought put options at a furious pace on fears that deepening subprime mortgage market problems would inflict more damage on the stock. Lehman's bonds weakened, too. " source: cnn
- "Bond insurers MBIA Corp. and Ambac Financial Group Inc. have potential subprime mortgage securitization exposure of $5.5 billion and $9.9 billion, respectively, but much of that exposure is to mortgages written well before the troublesome year of 2006, which has been the biggest problem in terms of defaults." source: seatllepi.com
- "Wells Fargo & Co (WFC.N: Quote, Profile , Research), the fifth-largest U.S. bank, said on Tuesday second-quarter profit rose 9 percent to a record, as higher customer fees offset a decline in mortgage banking income and a jump in loan losses. Net income for the San Francisco-based company increased to $2.28 billion, or 67 cents per share, from $2.09 billion, or 61 cents, a year earlier. Revenue rose 13 percent to $9.89 billion, while expenses rose just 11 percent." source: reuters
- Some aggrieved investors are turning to lawyers to pursue possible legal claims stemming from losses at two Bear Stearns Cos. (BSC.N: Quote, Profile, Research) hedge funds that were virtually wiped out from large, illiquid bets on risky mortgages. source: reuters
- Credit Suisse report on subprime (3.12.2007).
- Mortgage delinquency rates from 2001-2007. source: alea
- "U.S. Federal Reserve Chairman Ben Bernanke said on Thursday that subprime mortgage losses could hit $100 billion and threaten consumer spending, but he sought to reassure lawmakers that the central bank was working quickly to strengthen lending regulations." source:reuters
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