MORE than 100 local councils, charities, churches, hospitals and nursing homes across Australia are sitting on a $2 billion black hole after buying subprime investments structured by Wall Street banks during the bull market but which are now potentially worthless.
A document leaked to BusinessDay revealed that Lehman Brothers is managing tens of millions of dollars [...]
More on this topic
(What's this?)
$75 Billion Needlessly Lost in Hasty Lehman Bankruptcy Filing?
(naked capitalism, 12/28/08)
Lehman Fundraising Talks "Stall"; Firm Looking to Split Into Two
(naked capitalism, 9/6/08)
Andy Kessler: Lehman = Pan Am
(Blogging the Commodity Bull Market, 9/15/08)
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