Monday, Dec 17, 2007
The next wave to hit banks and ratings agencies - Banks looking pretty shaky now IMHO.
MSNBC: Lehman faces legal threat over CDO deals
Lehman Brothers faces the threat of legal action by municipal councils in Australia over the sale of high-risk collateralised debt obligations by the Wall Street bank's local subsidiary, Grange Securities.
At least two councils in New South Wales and a third in Western Australia are considering litigation against Grange, which marketed Lehman-originated CDOs to dozens of Australian councils as well as to charities and a public hospital provider.
Posted by tyrellcorporation @ 10:20 AM (178 views) Add Comment
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