Lehman Pushing Assets?

Author:
Publish date:

Charlie Gasparino reports that Dick Fuld is working "feverishly" on a possible sale of the firm's entire commercial mortgage debt book, missing almost all of the Olympics to do so (though time was made yesterday for beach volleyball, and Erin Callan has been taking copious notes* throughout the weekend that should've been on Fuld's desk an hour ago). The deal apparently could be announced anytime in the next two weeks. The assets, which include those can't lose subprime mortgage related holdings, will likely be sold at a steep discount and, according to CG, force Lehman to take further writedowns and raise more capital.
The option to sell a giant piece of Neuberger & Berman is still on the table.
Earlier: Lehman To Sell IMD?
Lehman Working Feverishly On Asset Sales [CNBC]
*With explicit directions to "pay careful attention to, and report back in excruciating detail on, Michael Phelps's assets. And Lochte. And that Cullen boy. And the whole French team. And, okay fuck it, just use this rule of thumb: anyone in a Speedo."

Related