‘Accounting Games’ Mask True Financial Pain, Says Housing Seer Rosner

The huge loss announced last night by AIG and Citigroup’s pending settlement over auction-rate securities (to be announced later today) show again the credit crunch remains very much alive.It’s likely to get worse before it gets better, says

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Posted on August 7th, 2008 by
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Lehman seen looking to Asia

By most accounts, the sovereign wealth funds of Asia are licking their burnt fingers after picking up big stakes in sickly U.S. financials. So we read with interest a report in the NY Post that Lehman Brothers CEO Dick Fuld has held talks with South Korean and other Asian investors about possibly raising more capital. […]

Posted on August 7th, 2008 by
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