主题：【读书笔记】滞胀的年代（上） -- wqnsihs
First, CDS market warns the financial market long time ago. CDS players are Lehman's lending commercial bank. Info was leaked out long time ago.
Second, Lehman's auditor is too loose. There is accounting problem.
third, Lehman mini-bond sold to Asian investors are unnecessarily complicated with remote trusts to separate legal trouble from the parent firms. that mini-bonds were marketed by asshole Asian bankers (e.g., HSBC private banking, DBS private banking...) aggressively to innocent and stupid retail investors.
Most investors did not even read the prospectus when they committed millions of dollar into Lehman mini-bonds.
Fourth, Lehman, even without including its off-balance sheet liabilities, had very high leverage ratios (at least higher than several investment bank peers. And unlike JPMorgan Chase, it has no stable retail deposit base to support its liquidity needs in times of turmoil.
Fifth, Lehman was killed by its heavy exposure to commercial real estate MBS. There was an active commercial real estate MBS market and you could see distress earlier.
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🙂对于不良资产管理来讲 2 典韦 字208 2011-02-01 08:00:34
🙂since you are a banker 8 parishg 字962 2011-02-03 05:11:49
🙂预测总是预测，但分析现状我们需要的还是目前的数据。 云无心而出岫 字62 2011-02-01 08:19:12
🙂wrong
🙂那只是个比喻。 云无心而出岫 字86 2011-02-03 05:17:26
🙂I see. parishg 字133 2011-02-03 05:19:30
🙂我想，p大，在哪一个国家，我们在发生特殊事情之前， 云无心而出岫 字177 2011-02-03 05:58:44
🙂附议 1 大黑蚊子 字331 2011-01-29 21:58:38