First Merrill Lynch bit the bullet and purged billions of dollars of debt from its balance sheet at a huge discount. According to the NY Post, Lehman may be the next to do the same. The firm is reportedly shopping "some $30 billion in commercial mortgage assets and other hard-to-value securities". Like Merrill, they may provide some financing for a deal. There’s apparently also speculation that Lazard was tapped to advise the firm.
Lehman Shopping Mortgage Securities – NY Post
Tags: Credit Crunch, Dick Fuld, Lazard, Lehman Brothers, Merrill Lynch
