Lehman Brothers

Lehman Getting Back Into Jumbo Mortgages?

Lehman’s Aurora unit was well known for originating Alt-A jumbo mortgages—Alt-A was for lesser credit quality, lower down payments and limited income documentation borrowers. When credit markets seized, Aurora got in trouble and Lehman collapsed. Now as Lehman is engaged in asset sale activities, the Aurora unit could be gearing back up. They’ve got a

Bull Market For Bankruptcy Lawyers

Ironically enough, it’s not all bearish as companies in all industries continue to fail. It’s a bull market for bankruptcy lawyers, as powerhouse firm Sidley Austin is reportedly receiving $1100 per hour to advise on the Tribune Company bankruptcy. This surpasses only Weil, Gotshal & Manges’s fees for presiding over the largest bankruptcy ever filed

AIG To Tap NY Fed For $38b On Top Of $85b They Already Got

Four days ago, AIG had used $61b of it’s $85b Fed loan to meet cash needs in the short term and buy time for them to sell off some divisions of the company to raise longer-term money and regain some stability. Today, the New York Fed allowed AIG to tap $37.8b for additional short-term liquidity: