Financial Times:
The surprise announcement of tougher standards for asset-backed securities used as collateral highlights how far the bank is planning its 'exit strategy' to dismantle measures taken after last year's collapse of Lehman Brothers. (Read More)
FT Alphaville:
Short-term US interest rates turned negative on Thursday as banks stockpiled government securities in order to “window dress” their balance sheets for the year-end, highlighting continuing distortions in the financial system more than a year after the collapse of Lehman Brothers. The scramble has been exacerbated by the fac (Read More)
New York Times:
Lehman Brothers Holdings' creditors filed $824 billion in bankruptcy claims against the collapsed investment bank, and the total may reach $1 trillion, Lehman chief executive Bryan Marsal said Wednesday. (Read More)
Wall Street Journal:
Bankruptcy stinks. But it may still be the best way to help unwind the nation’s “Too Big To Fail” institutions when the next financial calamity hits.That was the view, at least, among panelists today at a Washington, D.C., gathering of the American Bankruptcy Institute, all of whom had misgivings about the administration’s (Read More)
Wall Street Journal:
Just hours after a government audit lambasted the New York Fed as meek in its role in AIG’s rescue last fall, two big names in the financial world sparred over similar questions of government heft–or lack thereof–in downtown Manhattan on Monday night.(Intelligence Squared U.S./Chris Vultaggio)On the Yes side…..Steven Rattne (Read More)
Wall Street Journal:
NEW YORK (MarketWatch) -- Goodrich Corp. said Tuesday it intends to acquire Atlantic Inertial Systems from private-equity firm J.F. Lehman & Co. for $375 million. The deal to buy the maker of guidance, stabilization and navigation products maker is expected to close before the end of the year, subject to regulatory approva (Read More)
FT Alphaville:
A European central bank is reportedly looking to take advantage of the recent bond market rally to offload something pretty special: Lehman-originated RMBS.
From Bloomberg:
The central bank of Europe's largest economy [Germany's Bundesbank] hired Morgan Stanley and structured finance advisory firm AgFe Ltd.... (Read More)
Financial Times:
Attorneys representing the estate of Lehman Brothers filed a lawsuit on Monday against Barclays Capital, in efforts to claw back as much as $10bn that it claims was transferred to the UK bank last year in the frenzied days following Lehman’s bankruptcy. The suit is the culmination of a one-year quest by Alvarez and Marsal,. (Read More)
New York Times:
Lehman Brothers' bankrupt estate filed a lawsuit against Barclays Capital on Monday, saying Barclays improperly pocketed more than $5 billion when it bought most of Lehman's North American operations last year. (Read More)
New York Times:
The bankrupt estate says Barclays improperly received more than $5 billion when it bought most of Lehman’s North American operations last year.
. (Read More)
Financial Times:
Attorneys representing the estate of Lehman Brothers filed a lawsuit against Barclays Capital, seeking to claw back as much as $10bn (£5.9bn) that it claims was transferred to the UK bank last year in the frenzied days following Lehman’s bankruptcy. (Read More)
FT.com - Investor's notebook:
Central bankers are poised to begin unwinding a range of 'monetary loosening' measures launched after last September's collapse of Lehman Brothers. (Read More)
FT.com - Lucy Kellaway:
The bear market in bull may be over but the bear market in courage is not. Fear and paranoia are even more a part of corporate life, writes Lucy Kellaway. (Read More)
Wall Street Journal:
LONDON (MarketWatch) -- Shares of U.K. inter-dealer broker Tullett Prebon slumped in early trade. The company said performance since July 1 continues to be robust, as volatility in interest rate structures, currency parities and credit spreads has persisted and government bond issuance has been at high levels. Revenue from (Read More)